Russia continued exporting wheat at a record pace in May 2017, when 1.92 MMT was shipped abroad. This is 46% more than exported in May 2016. This season exports of Russian wheat have gained almost 2 MMT (8.4%) against the same time last year and reached 25.74 MMT. Russian wheat exports to the Egyptian market have hit a five-year high in the current season. Russia supplied 6.63 MMT to Egypt in the eleven months of MY 2016/17. The previous record was registered in MY 2011/12 (roughly 7.35 MMT).
Centre South Brazil June 1-15 sugar output doubles YoY to 2.38 mln tn.
Centre South Brazil June 1-15 sugar output doubles YoY to 2.38 mln tn.
India Maize prices up on low supply.
Maize prices rose in the key wholesale Purnea market in Bihar due to declining supply. Good quality grain was sold up 10 rupees from previous close. Maize arrivals from the rabi crop are declining in key wholesale markets as the harvesting has ended and most of the farmers have sold their crops. In the benchmark Purnea market, supplies have been reduced to nearly 1,000-1,500 tonne daily, lower than the average 2,000 tonne last week.
Chana down in Bikaner on thin trade, flat in Delhi.
Chana down in Bikaner on thin trade, flat in Delhi.
Dairy body buys maize at 1,258-1,290 rupee/100 kg.
The National Cooperative Dairy Federation of India on Friday bought 3,000 tonne maize in two lots at 1,258-1,290 rupees per 100 kg through an online auction. The commodity, which is used as cattle feed, was bought on behalf of the Karnataka Milk Federation. The federation, which has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy products.
Tur price down in Akola, Gulbarga as demand subdued.
Tur price down in Akola, Gulbarga as demand subdued.
IGC trims 2017-18 global corn crop forecasts.
The IGC forecast the 2017-18 global corn crop at 1.025 billion tonnes, down one million tonnes from last month estimate and well below the prior season 1.069 billion. Downward revisions for corn crops in China (213.2 million tonnes from 215.2 million) and the European Union (60.2 million from 61.0 million) were partially offset by an improved outlook for production in Argentina (41.8 million from 39.8 million).
Tur area seen falling 40% as farmers shift to more profitable crops.
Tur area seen falling 40% as farmers shift to more profitable crops.
Canadian farmers seed more corn.
Canadian farmers seeded 3.6 million acres of grain corn in 2017, for an increase of 7.5 per cent from 2016. Manitoba set a new record for grain corn planted with 410,000 acres seeded this spring, an increase of 18.8 per cent from last year.
Madhya Pradesh extends moong, urad procurement deadline till July 31.
Madhya Pradesh extends moong, urad procurement deadline till July 31.
Thailand Ministry to keep rice prices steady.
The Commerce Ministry is brainstorming policies to stabilise paddy prices ahead of the harvesting season in the third quarter of the year, when 24-26 million tonnes of paddy are due to flood the market and depress prices. Government plans to use the existing price supporting scheme, for which the state-owned bank offered soft loans with a 3% interest rate to millers and local traders to encourage them to stock up on paddy during the harvesting season, both helping farmers while preventing the crop from flooding the market.
Canada May pea exports at 201,700 tn, up 30% on year.
Canada May pea exports at 201,700 tn, up 30% on year.
NCDEX coriander down nearly 3% on profit booking.
Futures contracts of coriander on the NCDEX were down nearly 3% today as investors booked profits after prices hit a four-week high of 5,310 rupees per 100 kg on previous close. A 2,400 tonne decline in open interest in the July contract to 28,270 tonne indicated profit booking by participants. The most active July coriander contract on the bourse was at 5,144 rupees per 100 kg, down 2.7% from the previous close.
Madhya Pradesh farmers asked to begin soybean sowing.
Madhya Pradesh farmers asked to begin soybean sowing.
Coriander up in Ramganj on rise in domestic demand.
Prices of coriander gained in Ramganj, a key wholesale market in Rajasthan, because of an increase in demand from domestic retailers and a fall in inventories at exchange warehouses. In Ramganj, the Badami variety was sold for 5,800-5,900 rupees per 100 kg, while the Eagle variety was sold at 6,200 rupees, both up 150-200 rupees from the previous day. About 6,200 bags (1 bag = 40 kg) arrived in Rajasthan today, up by 1,200 bags from previous close.
CBOT soybean up due to poor crop conditions in US.
CBOT soybean up due to poor crop conditions in US.
All-India cotton arrivals down at 19,000 bales.
Around 19,000 bales (1 bale = 170 kg) of cotton arrived in the major spot markets across the country Wednesday, compared to 20,000 bales Tuesday.
Mustard seed up in Jaipur as supply down, demand up.
Mustard seed up in Jaipur as supply down, demand up.
ICRA sees India year to Sep 2018 cotton output up 6% at 36 million bales.
India cotton production is likely to increase by 6% to around 36.0 million bales (1 bale = 170 kg) in 2017-18 (Oct-Sep), owing to higher acreage and forecast for normal monsoon due to a likely El Nino formation gradually waning. Expectations of higher output in the upcoming season may create a downward bias for cotton prices from July. Cotton sowing in the ongoing kharif season has already witnessed a rise in acreage compared with last year, and is likely to sustain in coming weeks. Cotton acreage in the country was up 30% on year at 2.47 million ha.
ICE Canada canola futures rise.
ICE Canada canola futures rise.