Global sugar body sees 3-mln-tn surplus in 2017-18.
ICE raw sugar low as 2017-18 output seen up.
ICE raw sugar low as 2017-18 output seen up.
NCDEX to withdraw special cash margin on sugar buy side from 5 June.
NCDEX to withdraw special cash margin on sugar buy side from 5 June.
India Wheat prices unchanged in spot markets, down on NCDEX.
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.
ICRA sees GST impact on sugar neutral.
ICRA sees GST impact on sugar neutral.
Wheat prices edge up as adverse weather could hit U.S. crops.
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.
Sugar down in north India due to poor demand from bulk buyers.
Sugar down in north India due to poor demand from bulk buyers.
Russia Sowing progress of cereals and pulses.
Planting of spring cereals and pulses was completed on an area of 24.839 million hectare (80% of the plan). This is 4.7% less than planted at the same time last year (26.077 million ha). Spring barley was sown on 6.517 million ha (84.6%) against 6.897 million ha in 2016, spring wheat on 10.250 million ha (75.6%) against 11.496 million ha in 2016, rice on 0.157 million ha (74%) against 0.172 million ha a year ago. Corn planting in Russia is 90% complete. The crop was sown on 2.747 million ha against 2.508 million ha 2016.
Maharashtra scraps stock-holding limit on all pulses except chana.
Maharashtra scraps stock-holding limit on all pulses except chana.
Egypt purchased 180 KMT of milling wheat from Russia and Romania in a tender.
Egypt purchased 180 KMT of milling wheat from Russia and Romania with shipment during July 1–10, 2017 at an average price of USD 202.61/MT C&F. The price in the previous tender equaled USD 207.91/MT C&F. In the previous tender, on May 17, 2017 Egypt bought 295 KMT of milling wheat from USA, Russia, Ukraine and Romania with shipment during June 15–24, 2017.
Chana prices down in Bikaner on subdued demand.
Chana prices down in Bikaner on subdued demand.
India maize unchanged in spot market.
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.
NAFED procures 42,617 tn chana for buffer stock.
NAFED procures 42,617 tn chana for buffer stock.
Bulgaria Corn export prices strengthened following the world market.
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.
NCDEX soybean up 2% on short covering post 5-yr low.
NCDEX soybean up 2% on short covering post 5-yr low.
The USDA released the April Grain Crushing report.
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.
Adani Wilmar took delivery of 3,550 tn of soybean on NCDEX in May.
Adani Wilmar took delivery of 3,550 tn of soybean on NCDEX in May.
India rice fall in major spot markets on weak demand.
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.
CBOT soybeans weak but close above session lows in US.
CBOT soybeans weak but close above session lows in US.
NFA gets OK to import 250,000 MT of rice via government-to-private sector scheme.
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.