Corn 2016/17 world ending stocks to rise slightly to 224 MMT from the May estimate of 223.9 MMT. Trade estimates also call for the 2017/18 world ending stocks to be 196.5 MMT, up from the May estimate of 195.3 MMT.
Corn sowing target in Kazakhstan.
Corn plantings totaled 127 thousands hectare (89.8% of the plan).
Globel barley market is tightest in 34 years.
The global downward trends in grain prices have affected barley significantly. This season barley prices were at a six-year low. At the same time, the world barley trade is rather weak. In July-March 2016/17, global barley exports lag 8% behind last season. The main drop is seen in the European market. Having boosted exports, Ukraine managed to just partially offset the fall in European sales. The situation will change in 2017/18 season: competition among major exporters is expected to weaken. Overall, the world’s production will decrease 7%.
All-India cotton arrivals unchanged at 36,500 bales.
Cotton arrivals at major spot markets across the country were at 36,500 bales (1bale=170kg), unchanged from previous close.
India coffee exports during Jan 1- Jun 6.
The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tonne. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.
India Wheat prices rise in Kota, Delhi markets on low arrivals.
In Kota, Rajasthan, rain in last few hours has hit supplies, triggering concern over quality of stocked grain. Mill-quality wheat was sold in Kota, up 10-15 rupees from previous close. In Delhi, prices of wheat rose due to lower arrivals from Uttar Pradesh. Mill-quality wheat was sold in Delhi up 30 rupees from previous clsoe.
NCDEX coriander down on rising imports, profit booking.
Coriander contracts on NCDEX fell nearly 2% as investors booked profits after prices rose on previous close. Coriander futures also came under pressure following a rise in imports. NCDEX July coriander contract was down 1.8% at 4,592 rupees per 100 kg, while the June contract was down 1.8% at 4,592 rupees per 100 kg. In Kota, the benchmark market for coriander, the Badami variety sold for 4,700 rupees per 100 kg, while prices of the Eagle variety were at 4,900 rupees, almost unchanged from previous close. About 1,000 bags (1 bag = 40 kg) arrived in Kota market, unchanged from previous close.
Wheat firm as dry weather threatens U.S. crop.
Wheat gains more ground, near 1-month top. Wheat traded near its highest level in more than a month on adverse U.S. weather. Wheat added 0.5 percent to $4.46-3/4 a bushel after closing up 2 percent when prices hit highest since May 4 at $4.48-3/4 a bushel. Hot and dry weather in the northern U.S. Plains and northern Midwest is expected over the weekend, potentially damaging crops.
EU wheat hits near one-month high as U.S. rally continues.
Paris wheat futures rose to their highest in almost a month as the market again tracked weather-fuelled gains in U.S. prices. Front-month September milling wheat on the Paris-based Euronext exchange settled 1.75 euros, or 1.0 percent, higher at 168.50 euros a tonne. It earlier rose to 169.25 euros, its highest since May 12, filling a chart gap as it pulled away from a contract low of 165.00 euros hit.
Algeria bought 450,000 tonnes of milling wheat.
Algeria state grains agency OAIC bought around 450,000 tonnes of milling wheat in a tender which closed on Wednesday. The origin is optional but the wheat likely to be mainly sourced from France. Prices were between $197.25 to $199 a tonne, cost and freight included, much of the purchase was done between $197.25 to $197.75 a tonne c&f.
Japan is seeking 159,610 MT of Australian, Canadian, and US wheat.
The tender, which calls for 81,115 MT of US wheat. Taxes winter wheat harvest is 58% complete. In addition, 87% of the nation crop is headed, with most Southern state all or nearly all headed. Japan Ministry of Agriculture import 14,010 tonnes of feed-quality wheat for livestock use via a simultaneous buy and sell (SBS) auction that closed late on Wednesday. The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by Sept. 30 and arrive in Japan by Nov. 30 in the tender that is usually conducted weekly.
Maharashtra to pay 30 rupees/100 kg extra for milling procured rice.
Maharashtra will pay rice millers 30 rupees per 100 kg over and above the Centre-fixed 10 rupees per 100 kg for raw rice and the mandatory 20 rupees for parboiled rice. The additional payment will be eligible for milling of rice procured in kharif and rabi seasons of 2016-17 and beyond. The rates had not been revised since 2005-06, and from 2015-16, the state decided to make additional payment to prevent rice mills from discontinuing operations.
Bangladesh issued an international tender to import 50,000 tonnes of parboiled rice.
Bangladesh state grains buyer issued an international tender on May 29 to import 50,000 tonnes of parboiled rice, the third such tender for the month. The deadline for offers is June 11 and the rice is to be shipped within 40 days of signing the deal.
South Africa to target Asian maize buyers as African supply jumps.
South Africa need to target Asian markets to boost maize exports this year after bumper crops at home and in neighbouring countries depressed prices and dampened demand in Africa. This season South Africa hopes to export most of its maize surplus for the first time to Asia and the Middle East, where buyers use it for animal feed rather than human consumption. South Africa is expected to harvest a record 15.6 million tonnes of maize this year, double last year output.
Green pea bids range from C$8.00 to C$8.75 per bushel in Western Canada, while yellow peas range from C$7.98 to C$9.75 per bushel.
Green pea bids range from C$8.00 to C$8.75 per bushel in Western Canada, while yellow peas range from C$7.98 to C$9.75 per bushel.
South Africa expects a record maize harvest 2017 15.6 million tonnes.
South Africa, exporting some 160,000 tonnes of white maize annually to Namibia, is forecast to harvest a record 15.6 million tonnes of maize in 2017, double last year output after favourable weather conditions lifted yields. The white maize futures contracts for July delivery settled at N$1,735 per tonne on the JSE commodity derivatives market last week. This was down considerably from N$5,000 per tonne just over a year ago.
Gujarat govt body to auction tur via NCDEX e-Markets.
Gujarat govt body to auction tur via NCDEX e-Markets.
USDA estimates India on pace for record rice procurement.
Riding on expected record harvest, India rice procurement already has surpassed the previous record of 36 million tonnes in market year 2009-10. The country rice procurement is estimated at 36.9 million tonnes compared to 32.6 million tonnes during the corresponding period last year. With additional procurement of rabi and summer rice expected to continue in eastern and southern states, India rice procurement in market year 2016-17 is likely to touch a record 38 million tonnes, about 4 million tonnes higher than last year. The USDA estimates India market year 2016-17 rice production at a record 108 million tonnes.
NCDEX soybean up 1% on short covering.
NCDEX soybean up 1% on short covering.
India rice prices unchanged.
Prices of rice remained unchanged in the key wholesale market of Kapurthala. The steamed variety of Pusa 1121 basmati rice was sold at 7,000-7,200 rupees per 100 kg in Kapurthala, while the parboiled variety was sold at 6,000-6,100 rupees. Prices of 25% broken non-basmati rice were unchanged at 2,300 rupees per 100 kg.