India wheat down in spot markets.
Ram Gopal Yadav (9 years ago)

Wheat futures on the NCDEX, on the other hand, traded lower taking cues from spot markets. June wheat contract ended down 0.4% from the previous close. In Delhi, prices fell by 5-10 rupees per 100 kg because of poor demand from states in south India. Demand from states in the South was poor this year, as these states had huge stocks of imported wheat.

Maize prices rise in Bihar on high demand.
Ram Gopal Yadav (9 years ago)

In Purnea, rabi maize was sold up 10-15 rupees from previous close due to amid high demand from the poultry feed industry after recent rainshit supplies. Around 3,000 tonne of maize arrived in markets today, up from 2,000 tonne on previous close. June maize contract ended down 0.7% from the previous close.

Rabobank pegs Brazil, Argentina maize at 131-132 million tonne in 2016-17.
Ram Gopal Yadav (9 years ago)

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.

Dairy body to buy 7,500 tonne de-oiled rice bran.
Ram Gopal Yadav (9 years ago)

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.

ICE cotton slightly up in short term.
Ram Gopal Yadav (9 years ago)

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.

USDA arm cuts Vietnam 2016-17 coffee output.
Ram Gopal Yadav (9 years ago)

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.
Ram Gopal Yadav (9 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%.

Brazil 2017-18 coffee output 52 million bags, down 4 million.
Ram Gopal Yadav (9 years ago)

Coffee production In Brazil in 2017-18 (Jul-Jun) is estimated at 52.1 million bags (1bag=60kg), 4 million bags lower on year. Production of the Arabica variety in the world largest coffee producer is seen falling 11% on year to 40.5 million bags due to the biennial production cycle. Production of the Robusta variety in 2017-18 is estimated at 11.6 million bags, up 1.1 million bags from 2016-17, owing to expectations of a rebound in production in the coffee growing areas of Espirito Santo, Rondonia, and Bahia after three years of drought. For 2017-18, coffee exports by Brazil are seen unchanged on year at 33.03 million bags. Closing stocks of coffee for 2017-18 are seen at 3.88 million bags, lower than 5.41 million bags in the previous season due to the likely fall in production.