India Wheat prices unchanged in spot markets, down on NCDEX.
Ram Gopal Yadav (9 years ago)

Demand for wheat is weak in south India, as there are ample stocks of imported wheat at ports and domestic markets are also flooded with supplies due to a bumper crop this year. wheat futures on the National Commodity and Derivatives Exchange ended down. The most active June contract ended down 0.2% from the previous close.

Wheat prices edge up as adverse weather could hit U.S. crops.
Ram Gopal Yadav (9 years ago)

Wheat was supported by forecasts of warm and dry weather in the northern U.S. Plains, potentially stressing newly planted spring wheat, and as excessive rains have swamped fields in the southern Plains and the Midwest. The most active wheat futures on the Chicago Board of Trade climbed 0.2 percent to $4.30-1/4 a bushel. The U.S. Department of Agriculture this week rated 62 percent of the U.S. spring wheat crop as good to excellent, down significantly from 79 percent a year earlier.

Wheat prices flattened out in Russia market last week.
Ram Gopal Yadav (9 years ago)

Export prices for Russian milling wheat with 12.5% protein closed the week within $185-188/MT FOB in Novorossiysk port for June delivery. This is on average down $4-5/MT year-on-year. Russian wheat exports in the latter half of the season are up 17.5% from last year. May wheat exports from Russia may approximate 1.6-1.8 MMT.

CBOT wheat contract up.
Ram Gopal Yadav (9 years ago)

wheat contract climbed 0.5 % to $4.31-3/4 a bushel, having closed up 0.1 % on previous close. Wheat up half a percent on forecasts of hot, dry U.S. weather. Dryness and hot weather are causing concerns for the U.S. wheat crop.

India maize unchanged in spot market.
Ram Gopal Yadav (9 years ago)

Maize prices remained unchanged in Purnea, Bihar, with good quality grain sold at 1,220-1,225 rupees per 100 kg and low quality at 1,100-1,120 rupees per 100 kg. With improving weather conditions, supply of good quality maize is increasing. On NCDEX, most active June maize contract ended almost flat at 1,301 rupees per 100 kg.

Bulgaria Corn export prices strengthened following the world market.
Ram Gopal Yadav (9 years ago)

Trading activity in Bulgaria grain market remains sluggish. The corn market is flat. The demand is weak both from traders and millers. Despite the price decline in the domestic market, export prices for Bulgarian corn somewhat strengthened following the world market. Bulgarian traders continue working with old-crop wheat, though this season exportable inventories have run out. Bulgaria exported 3.95 MMT of wheat by May 19. Bulgaria continues supplying small volumes of wheat both to the EU market and beyond its borders.

The USDA released the April Grain Crushing report.
Ram Gopal Yadav (9 years ago)

Showing 432.75 million bushels were crushed during April. That is down 6% from March, but 8% larger than the previous April. This morning EIA report showed average daily production of 1.02 million barrels, up 10,000 barrels per day from the previous week. Ethanol stocks rose just 79,000 barrels to 22.763 million barrels. The monthly EIA report showed 1.037 million barrels per day average production during March, up 11,000 barrels per day from February. Analysts are estimating the USDA will announce 450,000-650,000 MT for old crop corn sales in the Friday edition of the Export Sales report, with 0-200,000 MT for new crop.

India rice fall in major spot markets on weak demand.
Ram Gopal Yadav (9 years ago)

Rice prices fell in the key wholesale market of Kapurthala due to slowdown in export demand. The steamed variety of Pusa 1121 basmati rice was sold at 7,000-7,200 rupees per 100 kg in Kapurthala, while parboiled variety was sold at 6,000-6,100 rupees per 100 kg. Prices of both varieties were down 100 rupees from previous close. Prices of 25% broken non-basmati rice were unchanged and the grain was sold at 2,300 rupees per 100 kg.

NFA gets OK to import 250,000 MT of rice via government-to-private sector scheme.
Ram Gopal Yadav (9 years ago)

The interagency National Food Authority Council (NFAC) has approved the recommendation of the National Food Security Committee (NFSC) to allow the NFA to import 250,000 metric tons (MT) of rice. NFA needs to import at least 752,560 MT of rice to meet its Legislative-Executive Development Advisory Council (Ledac)-mandated stock requirement of 30 days at the onset of the lean months. The national daily rice requirement is pegged at 32,720 MT. NFA imports committee is set to finalize and approve the guidelines for the importation of 805,000 MT of rice by private traders under the 2017 minimum access volume (MAV) scheme of the World Trade Organization. The NFA imports rice to augment its buffer stock during the lean months of July to September, when palay harvest significantly goes down due to harsh weather.

Bangladesh firm inks deal for Philippine developed rice hybrid.
Ram Gopal Yadav (9 years ago)

Philippine-based rice research company SL Agritech Corp. on Wednesday signed a collaboration agreement with Bangladesh firm EnP Solutions Ltd. for the seed production of SL-18H variety of hybrid rice. SL-18H is a high-yielding rice hybrid which could withstand both dry and wet climate. SL Agritech will sell 20 to 50 tons of SL-18H hybrid rice seedlings to EnP Solutions annually. This will cover 5 to 10 hectares of rice fields. With 163-million population and decreasing scope of arable land, the rice hybrid is expected to increase Bangladesh rice production.