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.
Centre’s cane price for 2017-18 hikes 10.6%.
Centre’s cane price for 2017-18 hikes 10.6%.
India sugar no volume on NCDEX for second day; down in spot.
India sugar no volume on NCDEX for second day; down in spot.
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.
All-India cotton arrivals down at 43,700 bales.
All-India cotton arrivals down at 43,700 bales Tuesday. Arrivals of cotton at major spot markets across the country were at 43,700 bales (1bale=170kg) on Tuesday, down from 44,700 bales on previous close.
USDA arm cuts Vietnam 2016-17 coffee output.
The USDA Foreign Agricultural Services has revised its estimate for Vietnam coffee production to 26 million bags (1bag=60kg) in 2016-17 (Oct-Sep) from 26.7 million bags due to unusual rains during harvest. Above-normal rains during Oct-Nov delayed harvest of the Robusta crop. Growers generally pick Robusta cherries from the end of October till January. Late rain starting in October through December 2016 did not only slow the picking and drying processes, but caused more physical damage to the beans. This situation also lowered the quality of the beans.
India coffee exports during Jan 1- May 23.
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%.