Wheat prices were down in key wholesale markets of the country due to subdued buying ahead of rollout of goods and services tax on Jul 1. In the key Delhi market, mill quality wheat sold down 20 rupees from the previous day and in Kota, the grain was sold down 10 rupees from previous close. The July contract ended down 0.4% from previous close.
Tur acreage falls 70% as farmers switch to other crops.
Tur acreage falls 70% as farmers switch to other crops.
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.
Bangladesh Rice exports seen picking up, Sri Lanka demand.
Rice exporters see a pick-up in demand for the Indian cereal from Bangladesh as the recent floods in that country have impacted output and sent prices high. Also, a drought in Sri Lanka has resulted in improved demand for the finer varieties such as sona masuri. Bangladesh recently floated three tenders to import about 1.5 lakh tonnes of white rice and par-boiled rice. A fourth tender is expected in July 1st week. Export prices have improved by about 15 per cent since the beginning of the year. As against FOB price of $360-370 per tonne in January, prices of white rice have now moved to between $420 and $430 a tonne.
Moong and gram rises in India due to pick up in retailer demand.
Moong and gram rises in India due to pick up in retailer demand.
NCDEX coriander hits upper limit on improved buying.
Futures contracts of coriander on NCDEX hit 3% upper limit, tracking spot markets where improved buying lifted prices. The most-active July contract was at 5,040 rupees per 100 kg, up 2.25% from the previous close. Supply in Rajasthan was 4,000 bags (1bag=40kg), almost unchanged from previous close. In Kota, Rajasthan, the Badami variety was sold at 5,600-5,800 rupees per 100 kg, while the Eagle variety was quoted at 5,800-6,000 rupees, both up by 200 rupees from previous close.
India kharif oilseed 2017-18, sowing 1.124 mln ha up 55.50% vs 0.723 mln ha LY as on 23 June.
India kharif oilseed 2017-18, sowing 1.124 mln ha up 55.50% vs 0.723 mln ha LY as on 23 June.
All-India cotton arrivals down at 21,100 bales.
Around 21,100 bales (1bale=170kg) of cotton arrived in the major spot markets across the country on Thursday, compared to 22,200 bales on previous close.
India soybean 2017-18, sowing 0.567 mln ha up 88.18% vs 0.301 mln ha LY as on 23 June.
India soybean 2017-18, sowing 0.567 mln ha up 88.18% vs 0.301 mln ha LY as on 23 June.
MCX cotton at 5-month low as output seen higher.
Futures contracts of cotton on the MCX hit a five-month low of 19,580 rupees per bale (1bale=170kg) due to expectations of higher output in 2017-18 (Oct-Sep). Cotton acreage in Gujarat, the largest producer, was at 496,400 ha, compared with 175,500 ha last year. On the MCX, the most active July cotton contract was at 19,800 rupees per bale, down 0.4% from the previous close.
Soybean prices tad down in Indore as arrivals rise.
Soybean prices tad down in Indore as arrivals rise.