MCX cotton up as USDA sees world 2017-18 end-stock down.
Ram Gopal Yadav (8 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%.

NCDEX coriander hits 4.5-year low on cheap imports.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on the NCDEX hit a four-and-a-half-year low of 4,927 rupees per 100 kg because of a rise in cheap imports from Ukraine, Bulgaria and Russia. The most-active June contract traded at 4,982 rupees per 100 kg, down 2.9% from the previous settlement. At Kota, the benchmark market for the commodity, the Badami variety quoted 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 Ramganj and Kota were 4,700 bags (1bag=40kg) down 1,300 bags from the previous day.

Wheat prices fall in Indore as govt buying ends.
Ram Gopal Yadav (8 years ago)

In Indore, good-quality grain was sold down 5-10 rupees per 100 kg, while mill-quality wheat down 5-10 rupees per 100 kg. Now that government buying has stopped, farmers are bound to bring even the superior quality wheat to markets, leading to rise in supply. So, there is a steeper fall in superior quality wheat. The government has bought nearly 6.7 million tonne wheat from Madhya Pradesh. As of now, the government had no plans to extend the procurement scheme.

India coffee exports during Jan 1- May 29.
Ram Gopal Yadav (8 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 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.

India wheat procured 29.7 million tonne, up 29.6% on year.
Ram Gopal Yadav (8 years ago)

Overall, the Centre has procured 29.7 million tonne wheat across the country, up 29.6% on year but short of its initial target of 33 million tonne. In Uttar Pradesh, the largest wheat producing state, the the government has procured 2.7 million tonne wheat, close to target of 3.0 million tonne. In Punjab, the government has crossed the target of 11.5 million tonne and as of Monday, the procurement was at 11.7 million tonne, up 9.9% from a year ago. The government has procured 7.4 million tonne wheat in Haryana, up 10.1% on year, almost achieving the target of 7.5 million tonne.

US Quarter of Kansas wheat in poor, very poor condition.
Ram Gopal Yadav (8 years ago)

The latest government update shows a quarter of the winter wheat crop in Kansas is in poor to very poor condition. 30 percent of the state wheat is rated in fair condition. About 38 percent is in good and 7 percent in excellent condition. Wheat coloring is at 39 percent. Hail in northwestern Kansas has damaged some wheat and recently planted spring crops. The southern half of the state was mostly dry this past week while areas in the north got up to two inches of rain.

CBOT wheat down 2 to 3 cents per bushel.
Ram Gopal Yadav (8 years ago)

Lower on technical selling and profit-taking after Friday 1.7 percent climb in the CBOT July contract, and spillover weakness from corn. Traders continue to monitor unfavorably wet conditions this month in the southern U.S. Plains and Midwest winter wheat regions. CBOT July soft red winter wheat was last down 3 cents at $4.35-1/4 per bushel, K.C. July hard red winter wheat last down 3-3/4 cents at $4.33-3/4 and MGEX July spring wheat last down 1-1/2 cents at $5.67-1/4.

USDA Wheat Crop progress.
Ram Gopal Yadav (8 years ago)

Indicating that 80% of the US winter wheat crop was headed. Individual state data showed TX was 22% harvested, vs. the average of 15% for this date. Winter wheat conditions were down 2% g/e to 50%, but only lost 1 point on the Brugler500 index to 340. Spring wheat is 96% planted and 79% is emerged, with both now ahead of their 5-year averages but behind last year. The crop is rated 62% g/e, vs. last year at 79%.

Maize prices fall in Bihar due to poor demand.
Ram Gopal Yadav (8 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 (8 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.