Futures contracts of coriander on the NCDEX extended losses and hit a four-and-a-half-year low of 4,745 rupees per 100 kg because of a rise in cheap imports from Ukraine, Bulgaria and Russia. The most-active June contract traded at 4,770 rupees per 100 kg, down 3.2% from the previous settlement. At Kota, the benchmark market for the commodity, the Badami variety was quoted at 5,900 rupees per 100 kg, while the Eagle variety was sold at 6,200-6,400 rupees, both unchanged from previous close. Arrivals in Rajasthan were unchanged at 4,700 bags (1bag=40kg).
Govt targets 35.5 mln tn oilseed 2017-18 vs 32.5 mln output 2016-17
Govt targets 35.5 mln tn oilseed 2017-18 vs 32.5 mln output 2016-17
All-India cotton arrivals down at 39,600 bales.
Arrivals of cotton at major spot markets across the country were at 39,600 bales (1 bale = 170 kg), down from 40,100 bales on previous close.
CBOT soybean futures rebound on short covering.
CBOT soybean futures rebound on short covering.
NCDEX cotton oilcake down on weak demand.
Futures contracts of cottonseed oilcake on NCDEX declined for the third straight day and hit a fresh 17-month low of 1,768 rupees per 100 kg due to tepid demand. Cheaper alternatives for cattle feed has hit demand for cottonseed oilcake. Weakness in cotton contracts on MCX also weighed on prices of cottonseed oilcake. The most active June contract of cottonseed oilcake on NCDEX was at 1,777 rupees per 100 kg, down 1.4% from previous close. In Akola, cottonseed oilcake sold for 1,975 rupees per 100 kg, down 10-20 rupees from previous close.
June soybean futures closed 0.4% lower.
June soybean futures closed 0.4% lower.
Indian coffee exports Jan 1-May 30.
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.
CBOT July soybeans are up 2-1/4 cents at $9.15 per bushel.
CBOT July soybeans are up 2-1/4 cents at $9.15 per bushel.
Chana prices down in spot markets on weak demand.
Chana prices down in spot markets on weak demand.
NCDEX mustard dn as demand poor, output seen higher.
NCDEX mustard dn as demand poor, output seen higher.
India Government wheat procurement grows 30% to reach 30 MT.
Wheat purchase has been close to 30 million tonne (MT) which is 6.8 MT more than the volume of grain purchased during the same period previous year. Punjab (11.6 MT), Haryana (7.4 MT) and Madhya Pradesh (6.7 MT) have purchased a major chunk of wheat since the procurement operations began on April 1. Only in Uttar Pradesh and Rajasthan the procurement operations are still going on while in the rest of key growing states, procurement operations have been completed.
Govt aims 355.0 mln tn cane 2017-18 vs 306.0 mln tn output 2016-17
Govt aims 355.0 mln tn cane 2017-18 vs 306.0 mln tn output 2016-17
Mustard seed quoted lower in Jaipur on muted demand.
Mustard seed quoted lower in Jaipur on muted demand.
Egypt has bought 3.6 million tonnes of local wheat since start of season.
Egypt, the world largest wheat importer, has bought 3.6 million tonnes of wheat from local farmers since the harvest began in mid-April. Egypt consumes 9.5 million tonnes of wheat to make its subsidized bread, 4 million tonnes from the local harvest and 5.5 million tonnes from imports.
India sugar output expected to jump on decent monsoon.
India sugar output expected to jump on decent monsoon.
June rapeseed contract closed 0.5% lower at $53.89 / 100 kg on the NCDEX.
June rapeseed contract closed 0.5% lower at $53.89 / 100 kg on the NCDEX.
Egypt GASC tender $191.46/T for Romanian wheat.
The lowest offer at Egypt state grain buyer GASC tender was $191.46 per tonne free-on-board for 60,000 tonnes of Romanian wheat. Trading company ADM made the lowest offer on a cost & freight basis for 60,000 tonnes of Romanian wheat at $201.56 per tonne. GASC is seeking an unspecified amount of wheat from global suppliers for July 1-10 shipment.
Ukraine increases sugar exports by almost 9-times.
Ukraine increases sugar exports by almost 9-times.
Palm oil on the European vegetable oils market continued to ease on fading demand and follow through technical selling in Malaysian palm oil futures.
Palm oil on the European vegetable oils market continued to ease on fading demand and follow through technical selling in Malaysian palm oil futures.
April Russian wheat exports to Turkey were lowest since February 2015.
Russia continued exporting wheat at a record pace in April 2017, when it supplied 1.96 MMT to foreign markets. This is 24% more than exported in April 2016 (1.58 MMT). This season wheat exports from Russia have totaled 23.77 MMT that is up 6% year-on-year. Shipments to Turkey shrank noticeably in April: their monthly total dropped to a season-low of 58 KMT. This is the smallest delivery since February 2015 (54 KMT).