Japan Ministry of Agriculture received no offers for feed-quality wheat or barley in a simultaneous buy and sell (SBS) auction that closed on Wednesday. The ministry had sought 120,000 tonnes of feed wheat and 200,000 tonnes of feed barley to be loaded by August 31, and arrive in Japan by October 31, in the tender that is usually conducted every week. It is seeking the same amounts for each grain to be loaded by September 30 and arrive in Japan by November 30 in a similar tender that will be held on June 7.
Sugar prices down in north India as rains seen boosting output.
Sugar prices down in north India as rains seen boosting output.
Govt raises base import price of all edible oils by 18-33 rupees/tn.
Govt raises base import price of all edible oils by 18-33 rupees/tn.
India maize unchanged in Purnea Bihar market.
Maize prices were unchanged in the benchmark market of Purnea in Bihar as there was no major change in demand or supply of the coarse grain. Mill quality maize was sold at 1,225-1,230 rupees per 100 kg in Purnea. Arrivals of the coarse grain were at 5,000 tonne, also unchanged from previous close. The prices are expected to decline as demand from feed makers is low after the quality of the crop took a hit due to the recent rains in Bihar. On the NCDEX, maize futures followed the trend in spot markets and ended down. July contract ended down 0.2% from the previous close.
Govt aims 22.9 mln tn pulses output 2017-18 vs 22.4 mln crop 2016-17.
Govt aims 22.9 mln tn pulses output 2017-18 vs 22.4 mln crop 2016-17.
Govt aims 274.55 million tonne food garin output 2017-18 vs 273.4 million tonne crop 2016-17.
The target for food grain production has been set at 274.55 million tonne for the new crop year, up from the bumper output of 273.4 million tonne in 2016-17. The government has set the target for rice production at 108.5 million tonne, which is lower than the record output of 109.2 million tonne this year. Wheat production target 97.5 million tonne wheat 2017-18 vs 97.4 million tonne output 2016-17. Maize production target at 26.0 million tonne 2017-18 vs 26.1 million tonne output 2016-17.
Tur prices up in Akola on buying at lower level.
Tur prices up in Akola on buying at lower level.
CBOT corn closed at $3.72, up 5 cents.
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.
Food Corp to auction tur, moong via NCDEX e-Markets.
Food Corp to auction tur, moong via NCDEX e-Markets.
USDA arm says Thailand ups price of its rice exports.
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.
NAFED procures 10,201 tn rabi masoor seed.
NAFED procures 10,201 tn rabi masoor seed.
U.S. rice prices could be headed higher in 2017-18.
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.
Prices of urad and gram drifted lower by up to Rs 200 per quintal at the wholesale market of national capital on easing demand from retailers against sufficient stocks position.
Prices of urad and gram drifted lower by up to Rs 200 per quintal at the wholesale market of national capital on easing demand from retailers against sufficient stocks position.
1st purchase from Iraq comes in rice.
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.
MMTC invites bids for sale of 11,170 tn imported urad.
MMTC invites bids for sale of 11,170 tn imported urad.
Thailand govt to liquidate 18 million tonne rice from reserves.
Thailand Prime Minister has asked the commerce ministry to sell 18 million tonne of stocked rice to save the huge cost of maintaining inventories. The government has already sold 13 million tonne of rice procured from farmers at a minimum support price. The government took three years to sell the rice stock and it fetched lower prices but deteriorating quality of the grain made the sale necessary. Thailand competes with India in the global rice export market.
ICE Canada canola futures drop in light trading.
ICE Canada canola futures drop in light trading.
All-India cotton arrivals down at 40,100 bales.
Arrivals of cotton at major spot markets across the country were at 40,100 bales (1bale=170kg), down marginally from 40,500 bales previous close.
Rapeseed oil production in Russia down 18% in 2016/17.
Rapeseed oil production in Russia down 18% in 2016/17.
NCDEX cotton oilcake extends losses on weak demand.
Futures contracts of cottonseed oilcake on the NCDEX extended their fall and hit a fresh 17-month low of 1,802 rupees per 100 kg due to sluggish demand. Cheaper alternatives for cattle feed weakened the demand for cottonseed oilcake. The most active June contract of cottonseed oilcake on the NCDEX traded at 1,813 rupees per 100 kg, down 0.48% from the previous close. In Akola, cottonseed oilcake was sold at 2,000 rupees per 100 kg, steady.