NCDEX coriander hits 4% upper cap on short covering.
Ram Gopal Yadav (9 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 (9 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 (9 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 (9 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.

Russian wheat prices rise on concerns over Black Sea crops.
Ram Gopal Yadav (9 years ago)

Prices for the new crop for July-August delivery at $173-$177 a tonne, up $1.50, while IKAR put prices at $176, up $2 from the previous week. Russian wheat export prices have risen for a third consecutive week due to persistent concerns over wheat crops in Russia and Ukraine to be harvested this summer. Last week, Russia agriculture ministry downgraded its forecast for Russia 2017 grain crop to 100-105 million tonnes from a previous 110 million tonnes due to unfavourable weather. Russian prices have also been supported by demand from Egypt, the largest market for Russian wheat. Last week, Egypt state buyer agreed to buy 120,000 tonnes of Russian and 60,000 tonnes of Romanian wheat, for July 1-10 delivery.

USDA arm sees India 2016-17 rice exports at 11 million tonne.
Ram Gopal Yadav (9 years ago)

India wheat exports in 2016-17 marketing year (Oct-Sep) are likely to be at 11 million tonne, up from 10.2 million tonne a year ago. the country had exported 5.2 million tonne rice, up from 4.8 million tonne in the year ago period. Indian rice exports have risen due to strong demand for non-basmati rice from African countries and neighboring Bangladesh, a record production at home and international parity in prices.

Rice, corn sown early in Thailand on good rains.
Ram Gopal Yadav (9 years ago)

The cultivation of main crop rice and corn in Thailand is occurring much sooner than the year-ago period due to favourable rainfall and sufficient water reservoir levels. Thailand Royal Irrigation Department crop progress report indicated that approximately 300,000 ha main-crop rice has been planted in irrigated areas, compared to 4,800 ha in the year ago period. Thai rice exports during Jan-Apr (2017-18), was at 3.6 million tonne, up 2% on year. Exports of corn from the country in 2016-17 are revised up to 700,000 tonne, compared to 500,000 tonne in the previous forecast.

India Prices of maize fall in Purnea due to higher supplies.
Ram Gopal Yadav (9 years ago)

The good-quality crop was sold in Purnea, down 20-25 rupees from previous close, while average-quality maize was sold down 10-15 rupees. Arrivals at the market rose to 5,000 bags (1bag=100kg) from 4,000 bags on previous close. NCDEX most active June contract of rabi maize ended down 1.2% from the previous close. Mill-quality wheat was in Delhi, up 5 rupees fromprevious close. Arrivals to Delhi are slightly down.