South Africa expects a record maize harvest 2017 15.6 million tonnes.
Ram Gopal Yadav (8 years ago)

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.

USDA estimates India on pace for record rice procurement.
Ram Gopal Yadav (8 years ago)

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.

India rice prices unchanged.
Ram Gopal Yadav (8 years ago)

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.

NCDEX cotton oilcake down as IMD ups monsoon view.
Ram Gopal Yadav (8 years ago)

Futures contracts of cottonseed oilcake on NCDEX fell from the intraday high of 1,664 rupees per 100 kg after the India Metrological Department raised the south-west monsoon forecast for 2017. IMD today revised its southwest monsoon forecast for 2017 to 98% of long period average from 96% predicted earlier. June cottonseed oilcake contract traded at 1,632 rupees, down 0.6%, while the most-active July contract was down 0.5% at 1,704 rupees. Cheaper alternatives for cattle feed has hit demand for cottonseed oilcake, and this further weighed on sentiment.

NCDEX coriander hits 4% upper cap on short covering.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on the NCDEX hit the 4% upper circuit today as investors covered their short positions after prices slipped to a four-and-a-half-year low of 4,535 rupees per 100 kg. The most-active June contract was at 4,807 rupees per 100 kg, up 3.7% from the previous settlement. Decline in supply in the physical markets also boosted sentiment. Arrivals in Rajasthan were 4,300 bags (1bag=40kg) down 2,200 bags from the previous day.

India coffee exports during Jan 1- Jun 5.
Ram Gopal Yadav (8 years ago)

The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tn, up from 327,000 tn produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tn, down 9% on year.

Govt FY18 wheat buys exceed target in Uttar Pradesh at 3.07 million tonne.
Ram Gopal Yadav (8 years ago)

Government has so far procured 3.07 million tonne wheat from Uttar Pradesh for the 2017-18 (Apr-Mar) season, beating the initial target of 3.0 mln tn. Government purchases are still in progress in the state and procurement may touch 3.5 million tonne this year. Overall, the government has purchased 30.1 million tonne wheat across the country, up 31.3% from a year ago. Apart from Uttar Pradesh, procurement operations are still underway in Uttarakhand and Rajasthan.

EU wheat rebounds as U.S. weather rally offsets strong euro.
Ram Gopal Yadav (8 years ago)

European wheat futures rose, recovering from a two-month low in the previous session, as a U.S. rally fuelled by poor weather for spring wheat offset strength in the euro and improving crop conditions in western Europe. Front-month September milling wheat on the Paris-based Euronext market unofficially closed 0.7 percent higher at 166.75 euros a tonne after rising as high as 167.50 euros. However, the trend remains bearish with improving crop prospects after the recent rain. The euro was firm against the dollar to trade close to a near seven-month high.