Wheat prices rise in Kota, Indore as supplies fall.
Ram Gopal Yadav (7 years ago)

Prices of wheat rose in key wholesale markets of Kota and Indore due to lower supplies. In Rajasthan Kota market, prices rose by 20-25 rupees per 100 kg. Demand for wheat also increased as markets are going to be closed for weekend and on Monday for a local festival. Wheat prices also rose in Madhya Pradesh benchmark Indore market as harvesting has almost ended now and supplies are falling. Mill quality wheat was selling in Indore, up 10 rupees from the previous day. In key consuming Delhi market, wheat prices fell as arrivals from Uttar Pradesh, Punjab and Haryana are rising. Mill quality wheat was selling in Delhi, down 5 rupees from the previous close. The June contract ended down 0.2% from the previous close.

IGC ups 2017-18 global wheat output view by 1 million tonne to 736 million tonne.
Ram Gopal Yadav (7 years ago)

International Grains Council has raised its estimate for global wheat output in 2017-18 to 736 million tonne from 735 million tonne estimated a month ago. The projected output is 2.3% lower than 753 million tonne produced a year ago, Wheat output is likely to fall in major producing countries such as Australia, Canada, US, Ukraine, and Kazakhstan. Production of the grain is, however, seen higher in the European Union, Weak prices of wheat in global markets led to reduced plantings, and probability of a lower crop in 2017-18, global carryover stocks of wheat are likely to be at 239 million tonne in 2017-18, down from 240 million tonne a year ago but higher than 234 million tonne estimated in March, The global trade of wheat is estimated at 166 million tonne in 2017-18, unchanged from previous estimate but down from 171 million tonne a year ago, Global exports of wheat are likely to fall due to lower import demand from India as the country is looking forward to a record output this year.

Prices of maize fell in Bihar Purnea market.
Ram Gopal Yadav (7 years ago)

Prices of maize fell in Bihar Purnea market due to easing of concerns over crop damage due to rainfall. Rainfall at the start of the week had triggered fears of crop damage and also hit arrivals but now the arrivals have increase and weather has also cleared. Around 2,000 bags of maize arrived in the market today, up 500 bags. On the NCDEX, the most active June maize contract ended down as arrivals across the country are rising. The contract ended down 2% from previous close. Maize arrivals across the country are expected to rise in the coming days and are likely to create a bearish sentiment in the market

Maize falls over 2% on NCDEX as arrivals rise.
Ram Gopal Yadav (7 years ago)

Futures of maize fell over 2% as arrivals of the rabi crop rose in the major markets across the country. The most active May maize contract down 2.5% from the previous close. Farm ministry has pegged India maize output at 26.15 million tonne in 2016-17 (Jul-Jun), up from 22.57 million tonne a year ago. Arrivals are expected to be on the rise till May 15, which is likely to keep prices subdued in the days ahead.

IGC ups 2017-18 global maize output raised to 1.026 billion tonne.
Ram Gopal Yadav (7 years ago)

The forecast for global maize output in 2017-18 has been raised to 1.026 billion tonne from 1.024 billion estimated in March. The projection is lower than 1.059 billion tonne produced in 2016-17, Maize output is expected to be lower due to a sharp cut likely in the US and China crop, Maize production in the US in 2017-18 is likely to be at 360 million tonne, down from 384.8 million tonne a year ago, production is seen higher in another producers Argentina, Brazil, South Africa, and Ukraine. The estimate for carryover stocks of maize has been raised to 207 million tonne from 205 million tonne forecast in March.

Turkey resumed imports of Ukrainian wheat.
Ram Gopal Yadav (7 years ago)

Ukraine exported 1053 KMT of wheat in March 2017, or almost as much as in the same month last year (1070 KMT was in March 2016). the key end market for Ukrainian wheat was Egypt. Ukraine supplied a season-record 347.5 KMT of wheat to Egypt that month. This represented 33% of total exports at the time, The European Union also revived imports of Ukrainian wheat in March. That month the EU absorbed over 26% of all the supplies – 278 KMT. In addition, in view of the heightened tension between Russia and Turkey, shipments to the Turkish market became more active in March. 46 KMT of wheat was supplied to Turkey that month – the largest volume since the season beginning (a total 73.4 KMT in MY 2016/17). Ukraine exported a total 14.615 MMT of wheat in the nine months of MY 2016/17, or 13% more than at the same time last season (12.912 MMT went abroad in July-March 2015/16Г).