Jun NCDEX maize hits 1-month low on cues from spot mkt.
Ram Gopal Yadav (9 years ago)

The June contract of maize on the NCDEX hit a one-month low in early trade. The June contract was down 1.2% from the previous close. Subdued demand from major poultry and starch feed firms weighed on maize prices in spot markets. In the benchmark market of Nizamabad. Telangana, maize was sold down 10-15 rupees from previous close. Higher arrivals at major spot markets in Bihar also weighed on futures of the commodity. In Purnea, Bihar, the coarse grain was sold down 20 rupees from the previous day. Arrivals at the Gulabbagh mandi in Purnea were at 3,200 tonne up from 2,800 tonne on Tuesday.

Dairy body to buy 30,000 tonne maize via e-auction.
Ram Gopal Yadav (9 years ago)

The National Cooperative Dairy Federation of India will buy 30,000 tonne of maize through a reverse electronic auction on Friday. The commodity, used as cattle feed, bought on behalf of Karnataka Milk Federation. The dairy body, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

Indore wheat prices fall on weak demand from mills.
Ram Gopal Yadav (9 years ago)

Wholesale prices of wheat in the benchmark market of Indore, Madhya Pradesh, fell due to weak demand from flour mills. In Indore, mill quality wheat was sold down 25-30 rupees from Tuesday. Low demand for flour has hit demand for wheat from flour mills. Arrivals were low in Indore at 7,000 bags, each carrying 100 kg of the grain, down from 10,000 bags on previous close. This prevented further fall in prices. Supplies have dwindled as farmers are not willing to sell the produce at low prices. Futures of wheat too were down, tracking weakness in spot markets. On NCDEX, the most active June wheat contract was down 1% from the previous close.

Govt FY18 wheat procurement up nearly 19% so far at 25 million tonne.
Ram Gopal Yadav (9 years ago)

The government has procured 25.07 million tonne of wheat so far in the marketing year that started April. The procurement is 18.8% higher than a year ago. The purchases are higher on year largely because wheat output in 2016-17 (Jul-Jun) is seen at a record high of 96.6 million tonne. Government procurement is highest in Punjab at 11.04 million tonne, up 10.4% on year, followed by Haryana at 7.12 million tonne, up 9.2%. In Uttar Pradesh, government agencies have bought 978,206 tn of the food grain, up 141.8% from a year ago. The Uttar Pradesh government aims to procure 8 million tonne of wheat this year. In Madhya Pradesh, the government has bought 5.17 million tonne of the grain so far, up 41.3% on year. In the benchmark market of Indore, the grain sold down 25-30 rupees. The central government aims to target of 33.0 million tonne wheat to be procured in the current marketing season, up from 22.9 million tonne on year.

NCDEX May sugar up taking cues from spot mkts.
Ram Gopal Yadav (9 years ago)

The May contract of sugar on the NCDEX rose, tracking a rise in prices of the commodity in key spot markets. In Mumbai and Kolhapur, the wholesale markets of Maharashtra, sugar prices were up 5 rupees from previous close. Prices in the wholesale markets rose as demand improved, with Stuckists replenishing their inventories at the start of the month. The most active May contract of sugar traded up 0.8% from previous close. Traders, however, are uncertain of the prices sustaining at current levels as supply of sugar is set to rise because of higher production in Uttar Pradesh and arrivals of imported stock.

Tunisia Buys Wheat Through Tender.
Ram Gopal Yadav (9 years ago)

Tunisia has bought around 75000 tonne of soft milling wheat in three consignments of 25000 tonne each. The first consignment was bought at $173.85/T C&F, second at $186.73/T C&F and third at $189.58/T C&F. The sellers were Europemarkets, Bunge and Nidera.

Jul CBOT wheat hits 2-mo high on crop damage in US.
Ram Gopal Yadav (9 years ago)

All contracts of wheat on the CBOT were trading nearly 1% higher with the most active July contract hitting a two-month high due to crop damage in the US. The July wheat contract was at $4.6075 a bushel, up 1.1% from the previous close. Snowfall in parts of Kansas and Oklahoma over the weekend damaged the wheat crop. Heavy rains and elevated temperatures also delayed wheat sowing in some parts of the country.

Maize prices down in Purnea as arrivals rise.
Ram Gopal Yadav (9 years ago)

Prices of maize fell in the key wholesale market of Purnea in Bihar as arrivals picked up. In the Gulab Bagh market of Purnea, the coarse grain was sold down 10-15 rupees from Previous close. Arrivals at the mandi were estimated at 3,000 tonne, up from 2,600 tn. Higher arrivals of maize owing to a record production of maize this year is keeping the sentiments bearish for the rabi crop. 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.

NCDEX Jun maize down on profit booking, spot cues.
Ram Gopal Yadav (9 years ago)

The June contract of maize on the NCDEX fell as investors booked profits after prices rose. the June contract was trading down 1.7% from the previous close. Prices had risen due to firm demand in spot markets amid lower supplies. Maize prices also tracked losses in wholesale markets. In Bihar key Purnea market, the coarse grain was sold down 10-15 rupees from the previous day, Maize prices in Telangana benchmark market of Nizamabad, however, rose amid a decline in supplies and firm demand from the poultry feed sector. Arrivals of the coarse grain more than halved in Nizamabad today to 600 bags (1bag=100kg).

Coriander prices rise in Kota as arrivals halve.
Ram Gopal Yadav (9 years ago)

The prices of coriander rose in Kota, the benchmark market in Rajasthan, as arrivals halved to 2,000 bags (1bag=40kg). Prices of coriander also increased on expectations of lower output in 2016-17 (Oct-Sep). Traders have pegged India coriander output this year at 9 million bags, compared with 10 million bags a year ago. In Kota, the Badami variety of coriander and the Eagle variety both sold up 100 rupees from previous close.