Egypt contracted to import 20,000 tonnes of Indian rice.
Ram Gopal Yadav (9 years ago)

Egypt, traditionally a rice exporter, has contracted to purchase 20,000 tonnes of Indian rice as per a cabinet statement on 03 May. Egypt govt statement did not explain why it had contracted to buy the rice. But in December, govt said it would import rice after cancelling a tender to buy locally produced rice when the bidding companies all offered higher prices than the govt had asked for. Egypt rice paddy production is estimated at 5.1 million metric tonnes in 2016 versus annual consumption of about 3.95 million tonnes, said USDA.

India 2016-17 rabi maize output seen at 7.9 millon tonne, up 14.7%.
Ram Gopal Yadav (9 years ago)

India rabi maize output in 2016-17 (Oct-Sep) is seen rising 14.7% on year to 7.9 million tonne. Acreage under the coarse grain has risen 11.7% on year to 2.1 million hactare in 2016-17, with gains in Bihar. Andhra Pradesh and Maharashtra because of good water availability in these states. In Tamil Nadu, however, area under the crop declined because of prolonged drought conditions. The brokerage has pegged average yields at 3.9 tonne per ha, up 5.4% on year. Output in Bihar, the largest producer of rabi maize producer, is seen at 2.8 million tonne compared with 2.4 million tonne a year ago. Despite a rise in output, export demand for maize is expected to remain largely unchanged at 500,400 tonne. In 2015-16, India exported 500,600 tonne of maize.

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.

Low supply lifts Indore wheat price; down in Delhi.
Ram Gopal Yadav (9 years ago)

Wheat prices in the benchmark market of Indore rose due to a decline in supplies. In Indore, the grain was sold up 10-20 rupees from the previous day. Around 5,000 bags (1bag=100kg) of wheat were brought to Indore markets down from 7,000-8,000 bags. Wheat prices in the key wholesale market of Delhi fell because supplies from Uttar Pradesh and Punjab are on a rise. Wheat was quoted down 15 rupees from the previous day. Arrivals were at around 50,000 tonne up from 40,000 tn. The most active May wheat contract on NCDEX had hit a two-month low down 0.9% from previous close. The July wheat contract on CBOT was at $4.58 a bushel, up 0.6% from previous close.

Haryana Arrival Update.
Ram Gopal Yadav (9 years ago)

Until 01st May over 69 lakh tonne of wheat have arrived in Haryana compared to 64.59 lakh tonne for the same period last year. Traders and government agencies have purchased 5874 tonne and 69.27 lakh tonne of wheat respectively. Of the total quantity procured by government agencies around 17.02 lakh tonnes has been procured by food, civil supplies and consumer affairs department, 24.72 lakh tonne by HAFED, 8.23 lakh tonne by FCI, 6.36 lakh tonne by Haryana Agro Industries corporation and 12.91 lakh tonne by Haryana warehousing corporation. Sirsa is the leading district with 9.69 lakh metric tonne of arrival

Fall in Russian Milling Wheat Prices.
Ram Gopal Yadav (9 years ago)

Export prices for Russian milling wheat decreased by $1 per tonne on weekly basis. Russian wheat with a protein content of 12.5% and 11.5% for April- May delivery settled at $186-188/tonne FoB and $181-183/tonne FoB respectively. Milling wheat prices kept on falling in Russia due to strengthening of Rouble and sufficient market supply. Furthermore, millers have enough stocks to keep prices down.

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.