Barley prices up in Jaipur on fall in supplies.
Madhya Pradesh may miss FY18 wheat procurement target by 1.5 million tonne.
Madhya Pradesh is likely to miss the 8.5-million-tonne wheat procurement target for 2017-18 (Apr-Mar) by 1.5 million tonne, due to lower turnout of farmers at procurement centres following delay in payments. Target of 8.5 million tonne now seems difficult. Madhya Pradesh is the second-largest wheat growing state in the country with output this year seen at a record 23 million tonne. since the procurement began in the state late March, around 6 million tonne of wheat has been procured, while another 1 million tonne is expected to flow into government reserves till early June. Delay in payment from cooperative banks due to cash crunch has irked farmers, pushing them to sell the grain in spot markets for instant payments.
Chana prices at 3-week high in Delhi as supplies halve.
Chana prices at 3-week high in Delhi as supplies halve.
Grain exports from Ukraine exceeded 37 MMT.
Ukraine exported 37.2 MMT of grains in 2016/17 by May 3, or 9% more than shipped abroad at the same time a year ago (34.2 MMT). This volume included 15.8 MMT of wheat (+11% year-on-year), 16.1 MMT of corn (+4%) and 5.1 MMT of barley (+22%). In the same period, exporters also shipped abroad 303 KMT of flour, including 301.7 KMT of wheat flour and 1.2 KMT of flour from other cereals.
Tur prices up in Akola on govt buys, low arrivals.
Tur prices up in Akola on govt buys, low arrivals.
Dairy body buys 600 tonne rice polish via e-auction.
The National Cooperative Dairy Federation of India bought 600 tonne rice polish through an online auction on Thursday. The commodity, used as cattle feed, was bought on behalf of the Kerala Co-operative Milk Marketing Federation. Rice polish is the outer layer of a kernel of rice which is removed during polishing. 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.
Spot urad prices up on demand from stockists.
Spot urad prices up on demand from stockists.
Purnea maize price unchanged; arrivals up, demand strong.
Prices of maize were steady in the key wholesale market of Purnea, in Bihar, as strong demand from stockists kept prices from falling even though arrivals nearly doubled. Arrivals of maize at the market nearly doubled to 8,000 bags (1bag=100kg) from Thursday. On Thursday, rainfall in the region kept arrivals in the market subdued. Arrivals increased, but demand for maize from stockists and other states was good, and this kept price steady. On the NCDEX, the most-active June contract of maize traded up 0.6% from the previous close.
Soybean prices up in Indore on demand from crushers.
Soybean prices up in Indore on demand from crushers.
NCDEX maize futures end up; spot price unchanged.
Futures contracts of maize also ended higher on the NCDEX due to concerns over crop damage following rains in Bihar. The June maize contract ended up 0.6% from the previous close. Prices of the coarse grain remained unchanged in the spot markets and good-quality maize containing 14% moisture was sold at 1,200 rupees per 100 kg in Bihar Purnea market, at 1,400 rupees in Maharashtra Jalgaon, and at 1,560 rupees per 100 kg in Telangana Nizamabad market.
Soybean ends 1% down in line with weakness on CBOT .
Soybean ends 1% down in line with weakness on CBOT .
Ukraine Corn planting lag reduced to 2%.
Planting of spring cereals and pulses was completed on an area of 6223 thousand hactare (86% of the plan). This is 3.7% less than planted at the same time last year (6465 thousand hactare). Spring barley was sown on 1557 thousand haactare (95%) against 1811 thousand hactare in 2016. Spring wheat on 169 thousand hactare (95%) against 164 thousand hactare in 2016, oats on 197 thousand hactare (95%) against 212 thousand hactare a year ago. Peas were seeded on 379 thousand hactare (115%) that is up 67.7% year-on-year (226 thousand hactare as of May 11, 2016). Corn planting in Ukraine is 84% complete. The lag in its progress reduced to 2%. The crop was sown on 3782 thousand hactare as of the reporting date against 3861 thousand hactare at the same time last year.
Jaipur mustard seed up on rising demand, low supply.
Jaipur mustard seed up on rising demand, low supply.
NCDEX coriander down as 2,260 tonne marked for delivery.
Futures contracts of coriander were trading lower as the bourse, on Thursday, marked 2,260 tonne of the spice for staggered delivery in the May contract. Sentiment for the spice was dampened as high delivery marked by the exchange would result in rise in supply in the physical market. The front-month May contract had hit 3% lower circuit earlier. The most-active June contract traded down 0.94% from previous close. Staggered delivery for the contract, which expire on May 19, started Thursday.
Groundnut seed at 2-week low in Gondal on weak demand.
Groundnut seed at 2-week low in Gondal on weak demand.
Coriander prices fall in Rajasthan as arrivals rise.
Prices of coriander in the spot markets of Rajasthan fell because of a sharp rise in arrivals. Arrivals in Kota and Ramganj more than doubled to 13,000 bags (1bag=40kg) from 5,000 bags on Thursday. In the benchmark market of Kota, the Badami variety and the Eagle variety both down 100 rupees from the previous day. On the NCDEX, the most active June contract of the spice traded down 0.3% from the previous settlement.
All-India cotton arrivals steady at 52,000 bales.
Arrivals of cotton at major spot markets across the country were at 52,000 bales (1bale=170kg) on Thursday, unchanged from previous level.
MCX cotton up 2% as prices on ICE near 3-year high.
Futures contracts of cotton traded up 2% on the MCX, tracking a sharp rise in the benchmark contract on ICE. May contract of cotton on MCX traded up 2.2% from the previous close. On ICE, the most-active July contract hit a three-year high of 82.18 cents per pound. Cotton prices on ICE rose sharply because of short covering. Prices rose as ending stocks of cotton are expected to fall globally in 2017-18. The US Department of Agriculture has pegged the world 2017-18 (Aug-Jul) cotton ending stocks at 87.14 million bales (1USbale=480 pound), lower from 89.52 million bales in 2016-17.
China sells 73% of 1.18 million tonne cotton offered in Mar-Apr.
China has so far managed to sell 869,712 tonne of the 1.18 million tonne of cotton from its state reserves during Mar-Apr. During Mar 6-31, the country sold 465,722 tonne out of 615,082 tonne it offered to textile mills, while during Apr 1-28, 403,990 tonne of the 568,254 tonne were sold. The total auctioned cotton was mainly from its domestic stocks, In April, the average price realisation of the cotton auctioned ranged from 14,639 yuan a tonne to 15,312 yuan. The country is de-stocking its massive state cotton reserves built over the past three years. China cotton auction has the potential to influence global cotton prices. International Cotton Advisory Committee has projected China stocks ending for the current season at 9.3 million tonne, accounting for 53% of world stocks. In 2016, the country had sold around 2.6 million tonne cotton from its reserves and expects a similar volume to be sold this year. It sells cotton stocks until Aug 31.
Bengaluru coffee auction offtake at 74 tonne of 243 tonne offered.
J. Thomas & Co Pvt Ltd sold 74 tonne of 243.28 tonne coffee on offer at the auction in Bengaluru on Thursday. The volume of coffee sold was unchanged from the previous auction, held on May 4. Of the total coffee on offer, 154.12 tonne was of the Arabica variety, while 89.17 tonne was the Robusta variety. Roasters purchased superior quality Arabica Plantation variety, while Robusta Parchment coffee received enquiries from exporters.