India maize prices down on quality concerns in Purnea market.
Ram Gopal Yadav (9 years ago)

Prices of maize fell in the key wholesale market of Purnea due to poor demand for moisture-laden crop. The quality of the grain deteriorated after recent heavy rains in the region. The coarse grain was sold down 20-25 rupees from previous close. June contract of maize on NCDEX was up 0.9% from the previous close.

Bulgaria Corn exports from down 12%.
Ram Gopal Yadav (9 years ago)

Bulgaria exported 875 KMT of corn from September 2016 till May 26, or 11.5% less than shipped abroad at the same time in MY 2015/16 (988 KMT). 80% of this season Bulgarian corn exports went to the EU market (700 KMT).

WASDE JUNE CORN OUTLOOK:
Ram Gopal Yadav (9 years ago)

Projected corn production for 2017/18 is unchanged at 14,065 million bushels. USDA will release the Acreage report on June 30, providing a survey-based estimate of corn area planted and a forecast of area harvested for grain. The seasonaverage corn price received by producers is unchanged from last month at $3.00 to $3.80 per bushel. EU corn production is down based on government data indicating lower-than-expected area in France and Germany. Canada corn production is lowered on reductions to both area and yield, as wetter-than-normal conditions in Ontario and Quebec during May delayed plantings and are expected to reduce yield prospects. Ukraine corn production is raised based on reported planting progress to date indicating a level of planted area above previous expectations. For 2016/17, Brazil corn production is raised as above-normal rainfall in the Center-West during May boosts yield prospects. South Africa corn production is higher reflecting the latest production estimate from the government. Major global trade changes for 2017/18 include higher projected corn exports for Ukraine and Russia, with increased corn imports for the EU. Foreign corn ending stocks are lowered from last month, with reductions for Canada, the EU and Russia more than offsetting increases for South Africa and Ukraine.

Rice acreage up 21.9% Year of Year at 551,000 hectares.
Ram Gopal Yadav (9 years ago)

Farmers in the country have sown kharif rice across 551,000 hectares, up 21.9% on year, as of Thursday. The acreage is 48.1% higher than the five-year average for the same period. The area under the rice crop in Nagaland was at about 143,000 hectares as of Thursday, up 8.3% on year, while in Arunachal Pradesh, the area was at 97,000 heactares, up from 85,000 hectares from a year ago. Uttar Pradesh, the largest producer of rice in the country, has not assigned any area under acreage up till now, while West Bengal the second largest producer of the crop has assigned 43,000 hectares, up from 42,000 hectares a year ago.

Bangladesh Coarse rice prices surge 42%.
Ram Gopal Yadav (9 years ago)

Coarse rice prices saw a surge of Tk3-Tk5 per kg while fine rice saw a Tk5-Tk10 hike per kg over the past month. Coarse rice prices have registered a whopping 42% rise in the last one year.Prices of coarse rice, which is generally consumed by poor and lower-middle income residents, have shot up by 5% to 10% in grocery stores across the country, compared to the last month. A kilogram of coarse rice was sold at Tk45-Tk50 while fine rice was sold at Tk55-Tk60 per kilogram at different grocery stores in the capital on Saturday. According to Trading Corporation of Bangladesh, coarse rice prices saw a surge of Tk3-Tk5 per kg while fine rice saw a Tk5-Tk10 hike per kg over the past month.

Philippines seen importing more rice.
Ram Gopal Yadav (9 years ago)

The Philippines is projected to import at least 1.5 million metric tons (MMT) of rice this year, 53.33 percent more than the estimated 0.7 million metric tons (MT) the country purchased from abroad last year. The FAO also noted that the price of rice for exports has started to go up after the Philippines and Bangladesh have sent signals that it would import more rice this year.

India year to Jun 2018 cotton area up 42% at 1.4 million hectares.
Ram Gopal Yadav (9 years ago)

Farmers had sown cotton across 1.41 million hectares as of Thursday, up 42.4% on year. In Haryana, acreage was at 630,000 hectares, up 28% on year, while in Punjab, the area under cotton was up 52% at 382,000 hectares. Farmers in Gujarat, country’s largest producer, have started sowing cotton early this year and covered 49,000 ha as of Thursday.

FAO raises global wheat output estimate by 2.8 million to 743.2 million tonne.
Ram Gopal Yadav (9 years ago)

The Food and Agricultural Organization has scaled up its estimate for global wheat production in 2017-18 to 743.2 million tonne from 740.4 million tonne projected earlier. While output is likely to rise in the European Union and North Africa, it is expected to fall in North America, Russia and Australia. The estimate for overall supplies was raised to 990.6 million tonne from 980.0 million tonne a month ago due to an increase in global stocks. Global wheat stocks in 2017-18 are estimated at a record high of 257.4 million tonne, up from 247.6 million tonne projected in May. The highest share in global stocks would be China at 108.5 million tonne. The FAO has cut its estimate for global wheat trade in 2017-18 to 171.0 million tonne from 170.0 million tonne due to lower imports from Asia and Africa.

NCDEX cotton oilcake up 2% on bargain buying.
Ram Gopal Yadav (9 years ago)

Futures contracts of cottonseed oilcake on NCDEX were 2% higher on bargain buying by investors after prices fell to over 18-month low of 1,568 rupees per 100 kg. The most active July contract of cottonseed oilcake on NCDEX was at 1,707 rupees per 100 kg, were up 2.2% from previous close, while June contract was up 1,632 rupees per 100 kg, up 2.1%. Open interest in the July contract increased to 92,740 tonne from 88,830 tonne indicating bargain buying by investors. In Amravati, Maharashtra cottonseed oilcake was sold for 1,650-1,750 rupees per 100 kg, up 5-10 rupees from previous close.