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.
Iraq issued an international tender to buy at least 30,000 tonnes of rice.
Iraq state grains buyer issued an international tender to buy at least 30,000 tonnes of rice. The closing date for the tender is June 11 and offers must remain valid up to June 15. The rice can be sourced from any origin worldwide.
Rice sowing target in Kazakhstan exceeded by 11%.
Despite the late arrival of spring, planting in Kazakhstan has already almost caught up with last year progress, even outpaced it in some regions. The lag in individual grain growing regions results from rainy weather at the plantings time. Spring spiked cereals were sown on an area of 12.53 million hectare, 2017 (87.5% of the plan) that is 4.6% less than at the same time last year (13.13 million hectare or 89.6% of the plan). The rice sowing target in the country has already been exceeded by 11%. Kazakh farmers planted 102.7 thousands hectare of rice by the reporting date, or 14.5% more than at the same time last year (89.7 thousands hectare).
Thailand Most edible rice in old stockpile now sold.
The National Rice Policy Committee has approved the 16.56-billion-baht sale of 1.66 million tonnes of old rice to auction winners, leaving only 160,000 tonnes of edible rice in the stockpile. the committee endorsed the sale of the rice that 24 bidders won in the second auction of old government rice this year. 90.84% of the 1.82 million tonnes put up for auction were sold. 90.84% of the 1.82 million tonnes put up for auction were sold.
Corn up for 5th day as dry weather threatens U.S. crop.
Corn hovers near last session 1-year high on U.S. dryness. Chicago corn rose for a fifth consecutive session and traded near a one-year high hit in the previous session as concerns over dry weather across the U.S. Midwest triggered short-covering. CBOT corn contract rose 0.4 percent to $3.86-1/4 a bushel, having gained 2 percent in the previous session when prices climbed to $3.87 a bushel, the highest since June 2016. Hot and dry weather in the northern U.S. Plains and northern Midwest is expected over the weekend, potentially damaging crops.
Corn World ending stocks.
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.
Turkey expected 2017 wheat production to rise 6 percent.
Agriculture Minister Turkey expected wheat production to rise 6 percent in 2017 from a year earlier, while barley production was seen up 12 percent this year. Turkish Grain Board (TMO) begin purchases as of Tuesday with the aim of meeting producers storage and financing needs.
Sugar down in north India on fear of GST impact.
Sugar down in north India on fear of GST impact.
Wheat near 2-week high as adverse weather hits U.S. crops.
Chicago wheat gained more ground, trading near last session two-week high on worries about dry weather threatening production of high-protein wheat in the United States. CBOT most-active wheat contract rose 0.7 percent to $4.38-3/4 a bushel, having climbed to $4.40-3/4 a bushel, the highest since May 22. Spring wheat damage and poor conditions for the hard-red winter wheat in the U.S. because of harsh weather.
Parle introduces new pulses brand called Fresh Harvest.
Parle introduces new pulses brand called Fresh Harvest.
India Maize weakens on subdued demand.
Maize prices softened by Rs 5 per quintal due to muted demand from consuming industries against adequate stocks. Sluggish demand from consuming industries against sufficient stocks position mainly weighed on maize prices. In the national capital, maize declined by Rs 5 to Rs 1,410-1,420 per quintal.
Chana prices up in spot markets on low supply.
Chana prices up in spot markets on low supply.