Prices of maize fell in Bihar Purnea market.
Ram Gopal Yadav (8 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 (8 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 (8 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 (8 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 (8 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.

Rabobank sees ICE cotton declining in long term.
Ram Gopal Yadav (8 years ago)

Rabobank expects cotton futures on the Intercontinental Exchange to decline in the long term due to expectations of a rise in the area under the crop globally in 2017-18. the July cotton contract on ICE is trading at 79.17 cents a pound, down 0.3 cents. prices are anticipated to come under pressures as excellent global prices incentivise area expansion, global cotton acreage is expected to rise 4% in 2017-18 led by the US, China India, and Pakistan. The market expects 2017-18 US cotton acreage to be in the range of 11-12 million acres, while Rabobank sees it at 11.3 million acres.

India coffee exports during Jan 1- Apr 26.
Ram Gopal Yadav (8 years ago)

The Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tonne. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.

Global warming hit India wheat crop in 5-15 year.
Ram Gopal Yadav (8 years ago)

India wheat output, which has risen 40% over the last decade due to improved yield, could come under threat over the next 5-15 years because of global warming. For wheat, high night temperatures have a significant impact on yields, referring to in Africa where higher-than-usual night temperatures cut the wheat crop cycle by 19 days, resulting in a 30-50% fall in yields. Every 1 degree Celsius rise in average daily maximum and minimum temperatures tends to pull down the average wheat yield by 2-4%. Not just the (wheat) yield, but the nutritional value would also come down due to the gradual increase in the carbon dioxide in the atmosphere. Indian farmers are likely to harvest a record 96.6 million tonne wheat in 2016-17 (Jul-Jun), as against the 69.5 million tonne output in 2005-06.