NCDEX coriander down on profit booking, higher stocks.

Futures contracts of coriander traded down nearly 3% on the NCDEX as investors booked profits after prices rose to a one-week high of 5,619 rupees per 100 kg in early trade. A 2,190-tn decline in open interest in the June contract indicated profit booking. June contract traded at 5,400 rupees per 100 kg, down 2.7% from the previous settlement. Prices of coriander also declined because of a 316 tonne on-week rise in inventories at exchange warehouses to 32,110 tn. Arrivals in Rajasthan were also steady at 7,000 bags.

CBOT CORN – Up 1 to 2 cents bushel.

Supported by concerns that storms in the eastern Corn Belt this week could slow fieldwork as well as flood some areas that have already been seeded, damaging recently planted crops. Most-actively traded July contract hit highest since May 4 overnight, breaking through 100-day moving average. CBOT July corn was last up 2 cents at $3.74-1/2 a bushel. The most active corn futures on the Chicago Board Of Trade rose 0.1 percent to $3.75-1/2 a bushel, having gained 0.7 percent in the previous session when prices hit a high of $3.77-1/2 a bushel.

U.S. corn planting seen 85 % complete.

U.S. corn planting was seen at 84 percent complete, slightly behind market expectations. showers have threatened some corn seedlings. This is the largest corn re-plant season in many years, mostly in the eastern and southern Corn Belt.

India Maize down in Bihar as supplies recover post rainfall.

After rising in the last few days, maize prices in Bihar benchmark Purnea market fell due to a rise in arrivals after rainfall in parts of the state faded away. Around 3,000 tonne of maize arrived in markets up from 2,000 tonne on previous close. On NCDEX rabi maize contracts traded higher because of high demand for the coarse grain stored in warehouses from poultry and starch feed manufacturers. The June maize contract ended up 0.6% from the previous close.

Telangana rabi paddy buys at record high 2.6 million tonne so far 2016-17.

Telangana has procured a record high 2.6 million tonne of paddy so far in the 2016-17 rabi season. The state had procured 729,000 tonne of paddy in the 2015-16 rabi season. Production of the cereal was at 4.2 million tonne in rabi season, higher than expectations of 3.7 million tonne. Till now Rs. 3917.46 crores (39.17 billion rupees) worth of 25.95 LMTs (2.6 million tonne) paddy has been purchased from 4,45,373 farmers from 2,979 purchase centers. Another 1.0-1.5 million tonne paddy is expected to be procured by the end of May.

Bihar maize up as rains boost demand for quality crop.

Demand for good-quality maize, containing 14% moisture, rose 20-30 repuees in Bihar Purnea market due to lower availability. Rains in Bihar in the last two days have led to increased moisture in the standing as well as the harvested crop. Arrivals to the market increased to 3,000 tonne from 2,000 tonne previous close due to respite from rains. NCDEX rabi maize contracts traded higher due to concerns over crop damage in Bihar after rains in the state. The June maize contract ended up 0.5% from the previous close.