Chicago wheat futures rose for a third consecutive session with prices underpinned by dry weather threatening to reduce U.S. spring crop production. The wheat market has been supported as crop conditions in the northern U.S. Plains spring wheat region have deteriorated sharply in the last month due to hot and dry weather. Analysts expect the U.S. Department of Agriculture on Friday to lower its estimate of U.S. spring wheat plantings for 2017.
Tur down in Akola on subdued demand from millers.
Tur down in Akola on subdued demand from millers.
USDA arm sees Kazakhstan 2017-18 wheat output down 13%.
Kazakhstan wheat production is likely to decline by 2 million tonne to 13 million tonne in 2017-18 (Sep-Aug) as acreage under wheat is expected to fall. The country wheat exports, however, are seen slightly higher in 2017-18 at 7 million tonne against 6.8 million tonne in 2016-17 due to an increase in closing stocks. As on Jun 1, Kazakhstan had 5.6 million tonne stock of wheat, compared with 4.3 million tonne a year ago.
MMTC invites bids for sale of 4,796 tn urad, 242 tn tur.
MMTC invites bids for sale of 4,796 tn urad, 242 tn tur.
CME Group to launch Australian wheat futures in Jul.
CME Group has announced it launch Australian wheat FOB (Platts) futures contracts on Jul 24 and available for trading on CME Globex. FOB or free on board indicates that the supplier pays the shipping costs. The contract listed with and subject to the rules and regulations of the CBOT. The financially-settled contracts take reference from the Platts daily assessment of the Australian Premium White wheat spot prices. This new contract helps international traders and give them exposure to Australian prices without having to take physical delivery.
Bulk lentil movement jumps in May.
Bulk lentil movement jumps in May.
USDA Crop Progress Report Shows Below Expectations on Wheat.
USDA showed crop conditions that were below expectations yet again. Spring wheat continued to see eroding scores hitting 40%, below expectations of 41% which was the reading last week.
Tamil Nadu floats tender to buy 30,000 tn tur, masoor dal.
Tamil Nadu floats tender to buy 30,000 tn tur, masoor dal.
EU wheat drops as French harvest makes good progress.
European wheat prices fell, pressured by good harvest results in France and as the euro rise against the dollar hampered the competitiveness of European wheat on world markets. Front month September on the Paris-based Euronext exchange was down 0.1 percent or 0.25 euro at 171.00 euros a tonne. It had surged during a heatwave in France last week, which raised concern of damage to crops.
Chana down in Delhi as supply up, demand weak.
Chana down in Delhi as supply up, demand weak.
US North Dakota corn bushels from 2016 could affect corn prices.
North Dakota farmers have sold a lot of corn, but the amount of crop left after last year record production could wreak havoc on local prices. The U.S. Department of Agriculture estimated in March that 215 million bushels of corn were being stored on farms in the state.
Masoor, urad rise on increased buying in India.
Masoor, urad rise on increased buying in India.
South Korea purchased 60,000 tonnes of corn sourced from South America in a tender.
Korea Corn Processing Industry Association (KOCOPIA) purchased about 60,000 tonnes of corn expected to be sourced from South America in a tender which closed on Tuesday. The corn was purchased at about $177.50 a tonne c&f including surcharge for additional port unloading. Seller was trading group Midstar. The corn was for arrival around October 15.
Soybean futures nearly 1% higher on NCDEX due to firm demand from crushers.
Soybean futures nearly 1% higher on NCDEX due to firm demand from crushers.
Romania hot weather may damage corn crops.
Elevated temperatures (2-4ºС above normal) were observed in the country last week. The average daytime air temperature was within 19-31ºС. Moisture supply available to corn plants (0-100-cm soil layer) is at good and fair levels almost all over corn growing regions. Local shortages are reported in the south-west and south-east. Excessively hot weather (32-35ºС) is expected in the country key growing regions this week. It may damage corn crops.
CBOT soybeans end firm on declining U.S. crop ratings.
CBOT soybeans end firm on declining U.S. crop ratings.
Paddy acreage up 4.5% on year on good monsoon progress.
India kharif paddy acreage was up 4.5% on year at 1.67 million hectares due to good progress of monsoon rains across major growing regions. Southwest monsoon rains have been near normal so far and according to the India Meteorological Department, the currents are likely to cover most parts of the country in the next two to three days. Typically, monsoon covers the entire country by Jul 15.
Jaipur mustard seed down on low buys, higher supply.
Jaipur mustard seed down on low buys, higher supply.
LT Foods to starts opening at 60,000-tn rice plant in Netherlands.
The company inaugurate a rice plant of 60,000-tn initial capacity at Rotterdam in Netherlands. The company would process varieties such as Basmati, Thai, Jasmine and American rice at the new plant. Shares of the company traded at 68 rupees, up 5.8%, on the National Stock Exchange.
India groundnut area 0.47 mln ha, up 49% on year.
India groundnut area 0.47 mln ha, up 49% on year.