Maize kharif futures plunge by Rs 42/quintal.
Ram Gopal Yadav (8 years ago)

New Delhi Maize prices slumped by Rs 42 in futures trading after trimming of holdings by participants, triggered by a weak trend at the physical markets. Cutting down of holding by participants amid a weak trend at the spot markets due to a muted demand led to fall in maize kharif prices at futures trade here. At the National Commodity and Derivative Exchange counter, maize kharif for delivery in May contracts plummeted by Rs 42, or 2.95 per cent, with the business turnover of 870 open lots.

Rabi maize prices fall in Purnea on higher arrivals.
Ram Gopal Yadav (8 years ago)

Prices of rabi maize fell in Purnea, the benchmark market, because of higher arrivals. In Purnea, Bihar, maize was quoted down from the previous day. The arrivals were pegged at 150,000-200,000 bags (1bag=100kg) compared with 100,000-150,000 bags on previous close. It is the peak season for maize (rabi) arrivals in Bihar. Prices are likely to fall in the coming days due to abundant supplies. Prices, however, may rise marginally from the current levels because recent rains and thunderstorms are likely to hit the standing crop in Bihar. In Devangere, a wholesale market in Karnataka, prices fell due to sufficient supplies. The coarse grain traded down 10 rupees from the previous close. Arrivals were around 1,200 bags, up 100-200 bags from previous close.

Dairy body to buy 900 tonne maize via e-auction Monday.
Ram Gopal Yadav (8 years ago)

The National Cooperative Dairy Federation of India buy 900 tonne maize through a reverse electronic auction on Monday. The commodity, 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.

NCDEX coriander up on low crop view, bargain buying.
Ram Gopal Yadav (8 years ago)

The May and June contracts of coriander on the NCDEX gained because of a likely decline in output in 2016-17 (Oct-Sep). Bargain buying by investors after prices fell to a 43-month low on Monday also supported coriander futures. The most-active June contract on the exchange was up 1.1% from the previous settlement. In the benchmark market of Kota, Rajasthan, the Badami variety and the Eagle variety both steady from previous close. Arrivals in Kota and Ramganj were pegged at 5,000 bags (1bag=40kg) up 200 bags.

Global coffee body sees market well supplied near term on higher crop.
Ram Gopal Yadav (8 years ago)

The international coffee market is seen well supplied in the near term as total export from major growing countries during Oct-Mar is estimated to be up 4.8% at 60 million bags (1bag=60kg). Global supply outlook during 2017-18 (Oct-Sep) is seen positive as initial concerns about frost in Brazil and a shortage of rainfall in Vietnam affecting the crop have eased. Rise in exports during Oct-Mar was mainly due to an increase in supplies of Colombian mild Arabica and other mild coffee grades. Colombia exported 10.3% larger volumes in the first six months of coffee year 2016-17. Shipments of Arabica coffees from origins in the Other Milds group are 16.6% higher than in the same period of the previous year. The rise in export shipments have ensured sufficient global stocks, and thereby have weighed on global prices.

Wheat up on flour mills buying.
Ram Gopal Yadav (8 years ago)

New Delhi Barring rise in wheat prices, other commodities moved in a tight range in the absence of worthwhile activities, settling at their previous levels. Arrivals and offtake too remained at a low ebb and volume of business restricted. Wheat dara also showed some strength on increased offtake by flour mills. Rise in wheat dara prices was mostly supported by increased offtake by rolling flour mills to meet increased demand. In the national capital, wheat dara (for mills) on the back of increased offtake by flour mills wheat dara prices rose by another Rs 20 per quintal.

Ukrainian grain market was sluggish last week.
Ram Gopal Yadav (8 years ago)

Last week, the Ukrainian grain market was sluggish. Domestic prices for all major cereals kept falling. CPT market was also quiet amid the decreased demand from importers for old-crop grain. A significant reduction of wheat exports from Ukraine is expected in May-June. Domestic grain CPT-port prices dropped on average by UAH 50-100/MT. New crop as well as strengthening of the national currency still pressured the domestic prices.

Maize down as govt ups output estimate.
Ram Gopal Yadav (8 years ago)

Most components of the grain basket on domestic exchanges, except maize, were steady in trade. According to the government third advance estimate, India rabi maize output in 2016-17 is expected to be 6.97 million tonne, slightly higher than 6.89 million tonne estimated earlier. The country had produced 6.51 million tonne rabi maize in 2015-16. The June maize contract on the NCDEX traded down around 1% from previous close. Higher arrivals of maize due to peak season in Bihar, a major producing state, also weighed on the sentiment. The coarse grain sold in Purnea largely unchanged from previous close.

Dairy body to buy 300 tonne de-oiled rice bran Thursdqay.
Ram Gopal Yadav (8 years ago)

The National Cooperative Dairy Federation of India will buy 300 tonne of de-oiled rice bran and 50 tonne of maize through a reverse electronic auction on Thursday. The commodities, used as cattle feed, will be bought on behalf of Indian Immunologicals Limited. The federation, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

Rice flat as govt ups output estimate.
Ram Gopal Yadav (8 years ago)

Prices of rice remained flat in major spot markets. The government also raised its estimate for 2016-17 rice crop to 109.15 million tonne from 108.86 million tonne projected earlier. Last year, India produced 104.41 million tonne of rice.