India Govt buys 3.6 million tonne of wheat in Uttar Pradesh for FY18, up 347%.
Ram Gopal Yadav (8 years ago)

The Centre has procured 3.6 million tonne of wheat from Uttar Pradesh for the 2017-18 marketing year (Apr-Mar), a whopping 347% higher than the previous year. Wheat procurement has almost ended in all states, barring Rajasthan, where the government has extended the purchases till Jun 30. Overall, the Centre has purchased 30.6 million tonne wheat across the country, up 33.5% from a year ago.

US Wheat down on easing weather worries.
Ram Gopal Yadav (8 years ago)

Chicago wheat futures slid on Monday as the market took a breather after rallying around 5 percent in the last two sessions on the back of dry weather hitting U.S. yields. Chicago wheat climbed to its highest in almost a year at $4.68-1/2 a bushel on previous close as dry weather threatened to reduce U.S. spring wheat crop production. Reports of disappointing yields in early harvesting of hard red winter wheat provided additional support. There have been weather concerns for corn as well as spring wheat in the U.S.

Rabobank sees CBOT wheat prices rising by 10-15% in a year.
Ram Gopal Yadav (8 years ago)

Wheat prices on the Chicago Board of Trade are likely to rise 10-15% to $5 per bushel in a year. The area under wheat has reduced in the US, leading to lower growth in stocks, while in the European Union, yields are not expected to reach the average of recent years due to unfavourable weather. On a global scale, the stocks-to-demand ratio for wheat has reached 33%, which Rabobank said was too high, adding that a high ratio would dampen prospects of a significant recovery in global wheat prices in the coming season.

India Govt ups MSP on paddy.
Ram Gopal Yadav (8 years ago)

Govt ups common grade paddy MSP to 1,550 rupees/100 kg. Govt ups fine grade paddy MSP to 1,590 rupees/100 kg. This comes at a time when the country is facing a glut in major crops and vegetables, which had resulted in subdued prices, leading to widespread protests among farmers in major growing states.

Vietnamese Rice prices up in domestic, foreign markets.
Ram Gopal Yadav (8 years ago)

The price of Vietnamese rice has increased strongly in both domestic and foreign markets recently because of high demand and limited supply. In the world market, Vietnamese rice is only priced lower than that from Thailand. Jasmine rice is now priced at US$565-570 per tonne, $65-70 per tonne higher than three weeks earlier. VietNam 5 percent broken rice is selling at $410-420 per tonne, up $35-45 per tonne, while 25 per cent broken rice is fetching $25-30 per tonne higher at $370-375 per tonne. Rice prices have also increased in the domestic market by an average of more than VNĐ1 million ($44) per tonne.

Philippine Statistics Authority Rice inventory down 13% in May.
Ram Gopal Yadav (8 years ago)

The country rice inventory as of May 1 declined by 13 percent to 3.21 million metric tons (MMT), from 3.69 MMT recorded a year ago. Of the rice inventory as of May 1, the PSA said 46.38 percent were with the households, 45.21 percent were in commercial warehouses, while 8.41 percent were in the NFA depositories. Nearly 75 percent of NFA stocks consisted of imported rice.

India Govt raises maize MSP by 60 rupees to 1,425 rupees/100 kg.
Ram Gopal Yadav (8 years ago)

The government has increased the minimum support prices on major crops including paddy, maize, tur, urad, moong, soybean and cotton. Maize get a minimum support price of 1,425 rupees per 100 kg, 60 rupees higher than last year. This comes at a time when the country is facing a glut in major crops and vegetables, which had resulted in subdued prices, leading to widespread protests among farmers in major growing states.

US corn down 1.3 percente.
Ram Gopal Yadav (8 years ago)

Corn gave up 1.3 percent on easing concerns over dryness in the U.S. The corn market is giving up gains as there is pressure on crude oil prices and the weather is looking better. Corn prices often track movements in the crude oil market with rising use of crops to make alternative fuels.

India year to September 20117 cotton export tops govt view of 5 million bales.
Ram Gopal Yadav (8 years ago)

India cotton exports in the year ending September are already at around 5.2 million bales, well above the Cotton Advisory Board estimate of 5.0 million bales for the whole year, though lower than 6.9 million bales the previous year. According to trade estimates, over 2.0 million bales have been shipped to Bangladesh, around 1.0 million bales to Pakistan, 900,000 bales to China, and 600,000 bales to Vietnam. the country still has 4 million bales of inventory and if prices fall below 20,000 rupees a bale, exports could gain pace in the coming months. As India is staring at a rise of at least 20% in output next year, prices are expected to fall sharply in the coming months.