India wheat down in spot markets.
Ram Gopal Yadav (8 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 (8 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 (8 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 (8 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 (8 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.

Chhattisgarh eyeing to step up paddy production by 2% this Kharif season.
Ram Gopal Yadav (8 years ago)

Chhattisgarh, one of the largest contributors of rice in India, has set a target to produce 8.2 million tonnes (mt) of paddy in the upcoming kharif season this year 2% higher than year ago. Chhattisgarh, known as the rice bowl of the country, had produced 8.04 million tonne of rice and was among the top three rice-contributing states last year. Inspite of the increased target, paddy acreage in the state has come down by 3 per cent in the upcoming Kharif season in 2017. Paddy would be sown in 3.65 million hectares of land, down from 3.37 million hectares in the year-ago period.

NCDEX coriander hits 3% lower cap on profit booking.
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander hit their 3% lower circuit on the NCDEX and declined further due to profit booking, after prices rose to a one-week high of 5,619 rupees per 100 kg on prevoius close. June contract traded at 5,186 rupees per 100 kg, down 3.7% from the previous settlement. Prices of coriander also declined because of 108-tn on-week rise in inventories at exchange warehouses to 32,140 tn. In the benchmark market of Kota, Rajasthan, the Badami variety and Eagle variety both down 100 rupees from previous clsoe. Arrivals at Ramganj and Kota were pegged at 4,200 bags (1bag=40kg) down 1,300 bags from previous clsoe.

India kharif cotton area up 33% so far in 2017-18.
Ram Gopal Yadav (8 years ago)

The area sown under kharif cotton so far in the country in 2017-18 was up 32.7% on year at 893,000 hectares. The normal area under the fibre in the corresponding period is 553,000 hectares. Cotton area in this kharif season is higher as farmers earned higher returns from the crop in the last year. In 2016-17 (Jul-Jun), the acreage under cotton had fallen 12% to 10.5 million ha on fears of pink bollworm infestation and whitefly attack, which had damaged a large quantity of the crop in 2015. Sowing of the cotton for the kharif season has commenced so far in Haryana with 463,000 ha area planted, Punjab with 280,000 ha, Rajasthan with 70,000 ha, and Karnataka with 50,000 ha.