CBOT corn closed at $3.72, up 5 cents.
Ram Gopal Yadav (9 years ago)

Corn futures posted gains of 5 to 5 1/2 cents in the nearby contracts. Lower than expected crop ratings were supportive of buying, along with month end position squaring. Most of the Corn Belt states were behind their respective averages for planting and emerged corn, with IA edging slightly higher. Individual state ratings show IN at 43% g/e, with IL 52% and OH 49%. The WCB states were in better condition as expected with NE at 76% and IA at 73% good or excellent.

USDA arm says Thailand ups price of its rice exports.
Ram Gopal Yadav (9 years ago)

Prices of rice exported from Thailand have increased due to continued demand for white and parboiled rice from the country. During the week ended May 22, prices of rice exported from Thailand increased 4-6% on week. It pegged rice production in Thailand in 2016-17 at 17 million tonne, against 15.8 million tonne the previous year due to higher recovery in off-season production. The estimate for exports from the country was, however, kept unchanged at 9 million tonne.

U.S. rice prices could be headed higher in 2017-18.
Ram Gopal Yadav (9 years ago)

U.S. rice producers could see higher prices for their 2017 crops – and it not mainly because of the losses due to the flooding that occurred in portions of Arkansas, Louisiana and California in late April and early May. The long-grain rice price forecast is up about $1 per hundredweight – around $9.70 to $10.70.

1st purchase from Iraq comes in rice.
Ram Gopal Yadav (9 years ago)

Iraq precedent-setting purchase of 30,000 MT of U.S. long grain milled rice comes after more than 16 months without any Iraqi purchases of U.S. rice. The 30,000 MT sale for July delivery was awarded to ADM, and comes almost a full year since the MOU was negotiated between the MOT and the U.S. Embassy in Baghdad.

NCDEX coriander sinks to 4.5-year low as imports up.
Ram Gopal Yadav (9 years ago)

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).

NCDEX cotton oilcake down on weak demand.
Ram Gopal Yadav (9 years ago)

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.

Indian coffee exports Jan 1-May 30.
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 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.

India Government wheat procurement grows 30% to reach 30 MT.
Ram Gopal Yadav (9 years ago)

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.