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.
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.
Rabobank pegs Brazil, Argentina maize at 131-132 million tonne in 2016-17.
Production of maize in Argentina and Brazil is expected to remain at 131-132 million tonne for the 2016-17 season, up from 96 million tonne last year, as favourable conditions are likely to boost yield prospects. Rabobank has also maintained a neutral stance on maize prices in the US, as short-term weather outlook is seen favourable for global maize crop. CBOT (Chicago Board of Trade) corn prices to remain largely range-bound, trading between $3.5 per bushel and $3.80 per bushel in the short-term, but a bullish bias remains.
Mustard seed prices down in Jaipur on higher supply.
Mustard seed prices down in Jaipur on higher supply.
Dairy body to buy 7,500 tonne de-oiled rice bran.
The National Cooperative Dairy Federation of India will buy 7,500 tonne de-oiled rice bran and 2,450 tonne rice polish through a reverse electronic auction on Tuesday. Rice polish is the outer layer of a kernel of rice, which is removed during polishing. The commodities, used as cattle feed, will be bought on behalf of the Kerala Co-operative Milk Marketing Federation. The National Cooperative Dairy Federation of India, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
NCDEX mustard low on poor demand.
NCDEX mustard low on poor demand.
ICE cotton slightly up in short term.
Rabobank expects cotton futures on the Intercontinental Exchange to rise marginally in the short term because of strong demand from overseas markets. Exports are rising despite a decline in stocks in the US. The country exported around 13.7 million bales of cotton in 2016-17. USDA projects cotton exports in 2017-18 at 14 million bales. Weather remains relatively non-threatening for India and the US–key nations in driving higher exportable stocks in 2017-18. Cotton futures are expected to trade at around 77 cents per pound in the short term. July cotton contract on ICE is trading at 78.39 cents a pound, up 1.5% from the previous settlement. cotton prices are likely to decline to 68 cents a pound in the long term due to an increase in acreage as farmers earned higher returns from the crop last year.