Maize prices fall in Bihar due to poor demand.
Ram Gopal Yadav (9 years ago)

In Purnea, the cattle feed quality of maize was sold down 10 rupees the previous day. Mill quality maize was sold down 5-10 rupees per 100 kg. Because poor demand for the coarse grain after rains hit the state. Prices fell due to low demand from industrial feed makers, as quality of the crop deteriorated after recent rains in Bihar. In line with spot markets, maize futures also fell on the NCDEX. The most active June contract was trading at 1,293 rupees per 100 kg, down 0.3% from the previous close.

CBOT corn down 2 to 3 cents per bushel.
Ram Gopal Yadav (9 years ago)

Lower on drier-than-expected conditions in the U.S. Midwest and improving forecasts for the coming week. Trade continues to debate how much U.S. corn will need to be replanted following widespread rains this month. CBOT July corn was last down 2-3/4 cents at $3.71-1/2 a bushel.

USDA corn Crop progress.
Ram Gopal Yadav (9 years ago)

The national corn crop was 73% emerged, last year was 75%. The initial corn condition rating was released, with 65% of the crop at good/excellent vs. last year 72%. The Brugler500 index puts the rating at 365 vs. 379 last year.

USDA corn exports rises.
Ram Gopal Yadav (9 years ago)

USDA corn export 1.195 MMT for the week ending May 25. That is an improvement of 2.28% over last week and 51.9% above the same week last year. With the short week, the EIA weekly ethanol report will be released on Thursday.

Grain exports from Ukraine exceeded 40 MMT.
Ram Gopal Yadav (9 years ago)

Ukraine exported 40.11 MMT of grains in 2016/17 by May 24, or 11.6% more than shipped abroad at the same time a year ago (35.95 MMT). Included 16.54 MMT of wheat (+8.1% year-on-year), 18.19 MMT of corn (+12.3%) and 5.15 MMT of barley (+21.3%). In the same period, exporters also shipped abroad 330 KMT of flour, including 328.6 KMT of wheat flour and 1.3 KMT of flour from other cereals.

Thailand govt to liquidate 18 million tonne rice from reserves.
Ram Gopal Yadav (9 years ago)

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.

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

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.

MCX cotton up as USDA sees world 2017-18 end-stock down.
Ram Gopal Yadav (9 years ago)

Futures contracts of cotton on the MCX traded higher, tracking a rise in benchmark cotton contract on the ICE, where lower estimates for global 2017-18 ending stocks pushed prices higher. The US Department of Agriculture has cut its estimate for global ending stocks of cotton for 2017-18 to 87.14 million bales (1USbale=480pound) from 89.52 million bales projected in 2016-17. On the MCX, the June contract was at 21,270 rupees per bale (1bale=170kg), up 0.3% from the previous close, while the most active July contract on the ICE was at 77.35 cents per pound, up 0.3%.