Kharif sowing gathers pace, at 6.9 million ha so far.
Russia year to Jun wheat export seen at record high.
Russia wheat exports are likely to touch a record high of 27 million tonne in 2016-17 (Jul-Jun). Wheat exports from Russia have already beaten last year record high of 25 million tonne. The USDA has also forecast Russia to be the world second-largest wheat exporter in 2017, with total overseas sales of 28.0 million tonne. Russia wheat exports are higher than last year as the government has scrapped the 50% export duty on the grain. Exports were supported by a weak rouble which makes Russian grain cheaper for foreign buyers, and by poor output in Germany and France.
ICE raw sugar dn on hopes of more output from Brazil.
ICE raw sugar dn on hopes of more output from Brazil.
Canada ups 2017-18 wheat supply estimate 1% from April.
Agriculture and Agri-Food Canada, a government agency, has raised its estimates for Canada wheat supply in 2017-18 (Aug-Jul) to 36.51 million tonne in its May forecast, up 1% from its April view. the country total wheat exports, including durum quality, are seen at 20.9 million tonne in 2017-18, down nearly 1% from its earlier forecast due to lower-than-expected demand for the grain.
Philippine sugar industry seeks to raise yield level by 25%.
Philippine sugar industry seeks to raise yield level by 25%.
Egypt procures 2.9 million tonnes local wheat since start of season.
Egypt has procured 2.9 million tonnes of wheat from local farmers since the harvest began in mid-April. The local procurement season runs until July and targeting between 3.5 million to 4 million tonnes of local wheat this year. Egypt consumes 9.5 million tonnes of wheat to make its subsidised bread, 4 million tonnes from the local harvest and 5.5 million tonnes from imports.
India imported 452 containers pulses at JNPT port as on 25th May-2017.
India imported 452 containers pulses at JNPT port as on 25th May-2017.
NCDEX maize contracts down 1% tracking spot market.
Active August contract of rabi maize traded down 0.8% from the previous close. The July contract traded 0.4% lower. Prices fell in the spot market because of rise in supplies. In the benchmark market of Purnea, Bihar, the grain was quoted down 10 rupees. Arrivals of the grain were pegged at 4,000 tonne, compared with 3,000 tonne on previous close. Arrivals have gained pace again now, after the rains and demand is also good for the fresh arrivals in markets.
Delhi chana down on higher arrivals, subdued demand.
Delhi chana down on higher arrivals, subdued demand.
India non-basmati rice exports likely to grow at 5% in FY18.
India exports of non-basmati rice are likely rise 5% in 2017-18 (Apr-Mar) from about 6.63 million tonne last year, due to high availability in country a bumper crop in 2016-17 (Jul-Jun). India non-basmati rice output in 2016-17 (Jul-Jun) is estimated at a record high of 103 million tonne. Higher supplies in the country have dragged the prices down, which has made Indian rice cheaper than its competitors. In global markets, 25% broken non-basmati rice from India is available at $415 a tonne while that from Thailand is sold at $544 a tonne and from Pakistan at $435 a tonne.
Akola tur unchanged on thin trade due to Amavasya.
Akola tur unchanged on thin trade due to Amavasya.
Wheat fall on NCDEX, unchanged in spot markets.
June contract of wheat ended down 0.3% from the previous close, due to high supplies in wholesale markets and weak demand from stockists and bulk buyers. Most of the bulk buyers have already built their stocks, so demand for wheat is weak while supplies across the country are high. Delhi price unchanged and daily arrivals in Delhi are at about 50,000-60,000 bags (1bag=100kg), a large share of which is from Uttar Pradesh and Haryana. Market in Indore was shut because Amavasya.
Jaipur moong down on low buying; imports seen up.
Jaipur moong down on low buying; imports seen up.
CBOT wheat futures traded higher.
July wheat contract on CBOT was at $4.3375 a bushel, up 0.3% from the previous close, due to concern about the quality of the crop in the growing regions in the US. Rains in the US over the last few weeks have triggered concerns of lower yield and high moisture content in the crop.
Canada cuts year to July 2018 pulses crop view, ups peas price forecast.
Canada cuts year to July 2018 pulses crop view, ups peas price forecast.
European Union wheat climbs in step with Chicago as euro weakens.
European wheat futures rose as a weaker euro and gains in Chicago futures lent support to prices. December milling wheat on the Paris-based Euronext exchange was up 0.25 euro or 0.15 percent at 171.50 euros a tonne. Trade was thin due to a public holiday in parts of Europe. The International Grains Council lowered its forecast for European Union production in the 2017/18 season by 0.4 million tonnes to 149.9 million tonnes. The revision was mostly due to a 1 million tonne cut in output for Spain, although higher production in France, Germany, Romania and Britain helped offset the bulk of the decline.
NCDEX soybean rises on short covering; seen bearish.
NCDEX soybean rises on short covering; seen bearish.
Japan buys 117,800 tonnes of food wheat via tender.
Japan Ministry of Agriculture bought a total of 117,800 tonnes of food quality wheat from the United States and Australia in a regular tender that closed late on Thursday.
Soybean futures for July delivery fell 0.9% to $9.39 1/2 a bushel at CBOT.
Soybean futures for July delivery fell 0.9% to $9.39 1/2 a bushel at CBOT.
CBOT Maize futures traded higher.
Corn futures on the CBOT traded higher as rains in the US have posed a threat to the yield of corn, in addition to fears that sowing may be hampered. July corn contract on the CBOT was at $3.73 a bushel, up 0.5% from the previous close.