The National Cooperative Dairy Federation of India bought 500 tonne maize at 1,844 rupees per 100 kg and another 350 tonne at 1,754 rupees per 100 kg through an online auction. The commodity, which is used as cattle feed, was bought on behalf of the Kerala Co-operative Milk Marketing Federation. The federation, which has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy products.
Akola tur dn as demand low, monsoon onset seen early.
Akola tur dn as demand low, monsoon onset seen early.
South Africa maize output seen doubling to record harvest.
South Africa will likely harvest a record 15.6 million tonnes of maize in 2017, double last year output after favourable weather conditions lifted yields. The fourth production forecast for the season, which is almost 6% higher than market expectations of 14.73 million tonnes, will be the largest crop since 1981 which reached 14.656 million tonnes. The staple white contract for September fell 2.35% to R1,794 per tonne, about 65% lower than its record of over R5,200 in January last year. The forecast may further depress maize prices, which will help break inflation and food prices while cutting the margins for farmers.
CBOT soybean down on global crude oil cues.
CBOT soybean down on global crude oil cues.
Bangladesh gets lowest offer of $406.48/T in rice import tender.
May 28 Bangladesh received a lowest offer of $406.48 a tonne from Singapore-based Agrocorp International in a tender that opened on Sunday to import 50,000 tonnes of white rice. Five traders competed for the tender issued by the Directorate General of Food at a time when local rice prices have reached record highs and state reserves are at 10-year lows.
NCDEX soybean falls to 5-year low; high expiry stocks.
NCDEX soybean falls to 5-year low; high expiry stocks.
Bangladesh rice prices break world record.
Bangladeshis buy the poorest quality of rice at the highest prices in the world. According to the government, a kilogramme of a coarse variety of rice is being sold at Tk 48, setting a record in the country economy. Another South Asia nation, Pakistan, stood second on the chart, but its nationals buy the same variety of rice at Tk 10 less than in Bangladesh. Trading Corporation of Bangladesh (TCB), in the past month, the price of rice has increased by 11 per cent and prices have doubled in the past one year.
Mustard seed prices tad up in Jaipur on bargain buys.
Mustard seed prices tad up in Jaipur on bargain buys.
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.
China soybean crushing margins hit nine-month lows as soymeal stocks grow.
China soybean crushing margins hit nine-month lows as soymeal stocks grow.
Maize fall on NCDEX, unchanged in spot markets.
Maize futures on the NCDEX fell as concern about the weather in Bihar. June contract of rabi maize ended down 0.4% from the previous close. Prices of the coarse grain in spot markets remained unchanged.
SOPA seeks soyoil import duty hike as soybean prices hit 5-year low.
SOPA seeks soyoil import duty hike as soybean prices hit 5-year low.
Dairy body buys 46 tonne maize at 1,481 rupees/100 kg.
The National Cooperative Dairy Federation of India bought 46 tonne maize at 1,481 rupees per 100 kg through an online auction. The commodity, which is used as cattle feed, was bought on behalf of the Sabarmati Ashram Gaushala. The federation, which has nearly 200 dairy cooperatives as its members, has developed an online trading platform to purchase feed stock and sell dairy products.
Jaipur mustard seed over 2-year low on muted demand.
Jaipur mustard seed over 2-year low on muted demand.
All-India cotton arrivals up at 43,900 bales.
All-India cotton arrivals up at 43,900 bales Wednesday. Arrivals of cotton at major spot markets across the country were at 43,900 bales (1bale=170kg) on Wednesday, up from 43,700 bales on previous clsoe.
India coffee exports during Jan 1- May 24.
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.
NCDEX coriander up 2% on short covering, low supply.
June contract traded at 5,105 rupees per 100 kg, up 2.6% from the previous settlement. Prices of the spice also rose as arrivals in Ramganj and Kota more than halved to 3,000 bags (1bag=40kg). At Kota, the benchmark market for the commodity, coriander prices were unchanged as demand matched supply. The Badami variety was quoted at 5,800 rupees per 100 kg, while the Eagle variety was sold at 6,100-6,300 rupees. Markets in Baran, Rajasthan, were closed because Amavasya.
Centre’s cane price for 2017-18 hikes 10.6%.
Centre’s cane price for 2017-18 hikes 10.6%.