European wheat futures hit a 10-day low as the easing of a heatwave, harvest advances.
Ram Gopal Yadav (9 years ago)

European wheat futures hit a 10-day low as the easing of a heatwave in western Europe and a quick start to harvesting in France offset weather worries that had pushed prices to a near one-year high last week. December milling wheat, the most active position on Paris-based Euronext, was down 2.00 euros, or 1.1 percent, at 176.00 euros a tonne at the close, just off an earlier low of 175.50 euros. The European Union crop monitoring service lowered its 2017 yield forecast for EU soft wheat, citing hot, dry weather.

US Wheat falls 2 percent on profit-taking.
Ram Gopal Yadav (9 years ago)

Chicago Board of Trade wheat prices fell about 2 percent, extending their slide to four sessions on profit-taking after a run-up to one-year highs last week. CBOT July wheat was down 8-1/2 cents at $4.51-1/4 per bushel. MGEX July reached $6.75 a bushel.

India maize prices rise on low supply.
Ram Gopal Yadav (9 years ago)

Prices of maize rose in the key wholesale market of Purnea, Bihar, because of a fall in the arrivals. The coarse grain was quoted up 10 rupees from the previous day. Around 500 tonne of maize arrived in Purnea, down from 700 tonne previous close, as recent rains in Bihar have hit transportation. Futures contracts of maize also traded slightly higher tracking the spot market. The most-active July contract of maize on the National Commodity and Derivatives Exchange traded up 0.2% from the previous close.

South Africa 2017 maize crop seen at record 15.8 million tonnes.
Ram Gopal Yadav (9 years ago)

South African expected to reap a record 15.82 million tonnes of maize this season after better weather boosted yields. The estimate is 1.4% higher than the latest forecast from the government Crop Estimates Committee (CEC) which put the harvest at a record 15.6 million tonnes, double last year output. A drought triggered by an El Nino weather pattern left 2016 harvest at just 7.78 million tonnes, but favorable weather since has put this year crop on track to surpass the previous record of 14.656 million tonnes in 1981. The Johannesburg stock exchange white maize futures contract due in September has fallen 66% from its peak of R5 188 a tonne hit in May last year to close at R1 775 on previous close.

India Branded rice set to get dearer; traders, mill owners worried.
Ram Gopal Yadav (9 years ago)

It nigh impossible to think of a south Indian meal without rice. And now, with the country getting ready for the rollout of the goods and services (GST) tax regime, South Indians, for whom rice is a staple food, have a reason to worry – all varieties of branded rice are set to get dearer by 5% per kilogram, come July 1. Karnataka is likely to be worst affected owing to the additional cess on grains levied by the state government on traders and millers. Besides the 5% GST tax on branded food grains, the state government levies a 1.5% market tax on food grains, which the Agriculture Marketing Produce Committee (APMC) has decided to continue even after the rollout of GST.