Indonesia, Philippines bought 0.2 MMT wheat from Black Sea.
Nagpur Pulses.
Gram and Tur prices recovered strongly in Nagpur Agriculture Produce and Marketing Committee (APMC) here on good seasonal demand from local millers amid weak supply from producing regions. Government decision to withdraw stock limited on pulses also boosted prices. Fresh hike in Madhya Pradesh gram prices and repeated enquiries from South-based millers also helped to push up prices. Gram varieties firmed up in open market here on increased festival season demand from local traders amid tight supply from millers. Tur varieties shot up in open market good seasonal demand from local traders amid thin supply from producing regions. Moong varieties recovered in open market here on renewed demand from local traders amid tight supply from producing belts.
India rice shipments slow as stronger rupee lifts export prices.
India rice shipments slow as stronger rupee lifts export prices.
CBOT soybean up as demand from China seen higher.
Futures contracts of soybean rose on CBOT due to anticipation of higher demand from China. Prevailing dry weather conditions in some parts of the US Midwest region also lifted prices of the commodity. Soybean futures also rose due to bargain buying.
Kota coriander prices up as rains disrupt supplies.
Kota coriander prices up as rains disrupt supplies.
Soybean contracts up on NCDEX tracking CBOT.
Futures contracts of soybean traded up on the NCDEX tracking the CBOT. The most-active August contract traded up 1.5% from the previous close. Contracts of soybean rose on the CBOT due to short covering by market participants after prices fell last week. Bargain buying by domestic oil millers and crushers after a recent fall in prices also supported contracts of soybean on the NCDEX.
Philippine likely to import 580,050 MT of rice in 2018.
Philippine likely to import 580,050 MT of rice in 2018.
Soybean acreage 9.9 million ha as of Thu, down 10% on year.
Acreage under soybean across the country was at 9.9 million ha as of Thursday, down 10.4% from the year-ago period. Sowing under soybean fell this year following a decline in acreage in Madhya Pradesh, the largest soybean-producing state, due to poor rains in the last fortnight. In Madhya Pradesh, acreage of the crop was at 4.71 million ha, down from 5.36 million ha in the previous year. The area under soybean in the state is lower so far because farmers chose to sow other remunerative crops such as cotton, urad, and moong, as soybean fetched poor returns in 2016-17.
NCDEX maize end lower on lack of cues in spot.
NCDEX maize end lower on lack of cues in spot.
NCDEX mustard seed up on export demand for meal.
Mustard seed contracts were up on the NCDEX owing to a pickup in demand for mustard meal from overseas buyers. On the NCDEX, the most-active September contract was trading up 0.81% from previous close. Seasonal demand for mustard oil during the rainy season also supported seed prices.
CBOT Corn rises as US crop ratings decline.
CBOT Corn rises as US crop ratings decline.
Groundnut acreage 3.5 million ha as of Thu, down 13% on year.
Farmers in the country had sown kharif groundnut across 3.49 million ha as of Thursday, down 12.9% on year. In Gujarat, the largest producing state, groundnut acreage was 1.61 million ha, up 2.6% on year, following favorable rains in the state. However, a fall in area sown under groundnut seed in other key producing states of Andhra Pradesh and Karnataka, following deficit rains, pulled down overall acreage in the country.
U.S corn exports reached 51.31 MMT in the 2017-18 MY.
U.S corn exports reached 51.31 MMT in the 2017-18 MY.
Chana futures up on NCDEX on demand from dal millers.
Futures contracts of chana rose on the NCDEX owing to improved demand from dal millers and stockists. On the NCDEX, the most-active September contract of chana traded up 0.33% from previous close. The government is planning to lift a decade-long ban on export of pulses, which is also seen supporting prices.
Global body sees India 2017-18 cotton export 930,000 tn, up 2% on year.
Global body sees India 2017-18 cotton export 930,000 tn, up 2% on year.
Govt limits tur import at 200,000 tonne to support prices.
The government has capped import of tur at 200,000 tonne per annum in a bid to to limit the fall in local prices. The restrictions apply until 2018. The import restrictions though not apply to the government import commitments under bilateral trade agreements and other pacts. The move comes in the wake of local tur prices falling to fresh lows due to a large crop. Robust government procurement also did not support prices. There were concerns that domestic prices may fall even further, as Africa is set to harvest a bumper crop this year, and the landed cost of the new African tur crop would be much lower than the domestic price. The government had earlier this year imposed 10% import duty on tur to check the fall in prices. The import duty, however, was not of much help, as tur is imported primarily from Myanmar and African countries, which can circumvent India import taxes due to bilateral pacts.
Cotton acreage at 11.4 mln ha as of Thu, up 18.5% on year.
Cotton acreage at 11.4 mln ha as of Thu, up 18.5% on year.
MMTC invites bids for sale of 3,734 tonne urad, 242 tonne tur.
MMTC Ltd has floated a tender to sell 3,734 tonne urad and 242 tonne tur. The pulses available at Chennai Central Warehousing Corp and National Collateral Management Services warehouse. Bids must be submitted on Aug 16, and opened the same day. The bids remain valid for acceptance till Aug 23.
MCX cotton rises on firm cues from global markets.
MCX cotton rises on firm cues from global markets.
Tur jumps 15% as govt caps import, may hit 5,000 rupee/100 kg by Sep.
Tur farmers seem to be breathing a sigh of relief as prices of the pulse have recovered 30% in the past six-seven sessions–15% in just two days since the government capped imports over the weekend. Government had restricted imports of tur to 200,000 tonne per annum, following which prices of the pulse surged by 400-500 rupees per 100 kg to cross 4,300 rupees in major markets. While trading activity remained subdued due to Raksha Bandhan and lunar eclipse, prices of desi tur rose to four-month high of 4,400-4,500 rupees per 100 kg at major trading centres such as Nagpur, Latur, and Akola in Maharashtra.