Maize falls over 2% on NCDEX as arrivals rise.
Ram Gopal Yadav (9 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 (9 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.

NCDEX coriander hits 7-week low as demand poor.
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander extended losses and hit a seven-week low on the NCDEX because of poor demand from domestic consumers. The fall in prices was also triggered by a 795-tn rise in inventories at exchange-designated warehouses to 23,987 tonne on. The most-active May contract on the NCDEX was down 2.25% from the previous close. In Kota, market in Rajasthan, the Badami variety and the Eagle variety both down 200 rupees. Arrivals were unchanged at 4,000 bags (1bag=40kg).

MCX cotton down on profit booking, likely output rise.
Ram Gopal Yadav (9 years ago)

Futures contracts of cotton on the MCX fell after rising in the previous session as traders booked profits, the most active May contract of cotton was at 21,000 rupees per bale (1bale=170kg), down 0.6% from the previous close. likely higher output in 2016-17 (Oct-Sep) has also kept sentiment bearish, Cotton output in Punjab, among the largest producers in the country, is likely to rise a whopping 220% on year to 1.26 million bales in 2016-17, while in Haryana, output is seen up 106% on year at 2.04 million bales, according to the third advance estimates from the farm departments of the two states. IMD has forecast the Jun-Sep southwest monsoon to be normal at 96% of the long-period average, adding to the expectations of higher production of cotton and weighing on sentiment.