Romania expected wheat exports slowdown.
Maharashtra extends sugar stock-limit cap until October.
Maharashtra has extended stock limit on sugar until October. The state government had imposed the stock limit on sugar in May 2016. The government continues to impose the stock limit on sugar due to concerns over supply shortage ahead of the festivals. Wholesalers and retailers in the state will not be allowed to hold more than 500 tonne and 50 tonne of sugar, respectively, for a period of one month after they receive the stocks. The government has also asked sugar mills to advance the crushing of the sugarcane to early- or mid-October to maintain adequate supply of sugar in the market.
India govt sells 2 MMT wheat to states in June under food security law.
India govt sells 2 MMT wheat to states in June under food security law.
India Govt may consider sugar import, stock limits on mills if prices rise.
The government may consider more duty-free sugar imports and bringing back stock limits on sugar mills this season if prices continue to rise in the run-up to Diwali. The government is looking at the possibility of allowing duty-free imports barely weeks after it increased the import duty on sugar to 50% from 40%, as prices have started rising. Prices in both retail and wholesale markets are expected to rise again as sugar supplies are tight this season and demand is seen increasing ahead of the festival season. The government had last year made it mandatory for mills to offload sugar from their stocks during Sep-Oct to rein in prices. Mills were allowed to keep only 37% of their total stock at the end of September, and 24% by the end of October, forcing them to offload a higher quantum in the market.
Deficient rainfall hits paddy farming in Shivamogga (Karnataka).
Deficient rainfall hits paddy farming in Shivamogga (Karnataka).
Soybean down in Indore tracking overnight CBOT cues.
Soybean was down in Indore tracking overnight fall in prices on the CBOT. However, sharp fall in the prices was restricted due to lower arrivals of the oilseed amid heavy rains in Madhya Pradesh. Soybean August contract on the CBOT ended 16 cents down at $9.8150 per bushel because of favourable weather in the US Midwest. Futures contracts of soybean on the NCDEX were down 0.3%.
Monsoon in India hits West Bengal paddy crop hard as seeds get washed away.
Monsoon in India hits West Bengal paddy crop hard as seeds get washed away.
Adani Wilmar took delivery of 15,000 tonne of soybean on NCDEX in Jun.
Adani Wilmar Ltd took delivery of 15,000 tonne soybean on the National Commodity and Derivatives Exchange under the June contract. At 4,140 tonne, Sunrise Broking Pvt Ltd made the highest delivery of soybean to the exchange. Olam Agro India Pvt Ltd took delivery of 4,690 tonne of the same-month contract of mustard seed, while the largest delivery of the oilseed was made by ITC Ltd at 6,330 tonne. Inditrade Business Consultants Ltd took delivery of 4,500 tonne castor seed, while Kashmeen Commodities Pvt Ltd delivered 2,980 tonne of the commodity.
India sells 0.1 MMT rice to Bangladesh via government tenders.
India sells 0.1 MMT rice to Bangladesh via government tenders.
CBOT soy up on short covering, crop damage worry.
Soybean futures on CBOT were higher as investors covered short positions after prices fell for three straight trading days. The most active November contract on CBOT was at $9.9675 per bushel, up 0.4% from the previous close.
Maize prices in Kenya fall as supplies improve.
Maize prices in Kenya fall as supplies improve.
Nearly 200,000 ha under cotton, groundnut in Gujarat faces rain.
Incessant rains followed by heavy flooding and water logging in Gujarat poses a major risk to cotton and groundnut crops among others. The weather bureau has forecast heavy to very heavy rains until Friday, which could worsen the situation for kharif crops.
SA farmers managed to produce 10.6 MMT of maize during the first eleven weeks of harvesting.
SA farmers managed to produce 10.6 MMT of maize during the first eleven weeks of harvesting.
Delhi chana price down on weak demand by dal millers.
Prices of chana fell in Delhi because of weak demand from dal millers Chana prices were down despite the Maharashtra government removing the stock limit on it. The most active August futures on the NCDEX were down 1.8%. Rajkot Gram, Besan prices moved down due to low retail demand.
China will offer 0.8 MMT of 2014 corn on 27 July.
China will offer 0.8 MMT of 2014 corn on 27 July.
Govt source says 2017-18 tur acreage may fall 5% on weak returns.
India tur acreage may fall around 5% in 2017-18 (Jul-Jun) kharif season as farmers are shifting to other crops for better realisation. Many farmers avoided sowing tur this year as they received lower prices for their earlier crop due to bumper production and lower-than-required procurement from the government. The sowing was down in the two largest tur-growing states of the country, Maharashtra and Karnataka, but a long-term shift in sowing pattern is more likely in southern parts of the country–Tamil Nadu, Andhra Pradesh, Karnataka, and Telangana.
NCDEX cotton oilcake falls to near 2 year-low.
NCDEX cotton oilcake falls to near 2 year-low.
Tur rates down in Akola on sluggish buying.
rices of tur continued to fall in Akola because of subdued demand from dal millers. However, traders anticipate a rise in demand in the coming weeks, while prices may also rise due to the slow pace of sowing of the pulse so far.
Nearly 200,000 ha under cotton, groundnut in Gujarat faces rain fury.
Nearly 200,000 ha under cotton, groundnut in Gujarat faces rain fury.
India arhar prices fall sharply, traders call for easing export restrictions.
Substantial stocks available with the government agencies, traders and farmers, because of a record output last year, has pulled down prices of tur or arhar sharply in the last couple of months.As a result, there has been growing demand for allowing export of pulses which may boost prices. The government must step in to stop further fall in prices of arhar. Nafed which is holding on to around a MT of arhar, has been negotiating with states to clear the stocks so that space would be created for new crop. Karnataka government has agreed to lift one lakh tonne of arhar while army, para-millitary forces have requirement of another lakh tonne.