Rabobank sees ICE cotton declining in long term.
Ram Gopal Yadav (9 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 (9 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.

Rabobank sees ICE arabica coffee higher in long term.
Ram Gopal Yadav (9 years ago)

Benchmark contracts of arabica coffee on ICE are expected to rise in the long term, due to a likely fall in production in Brazil, world largest coffee grower. The most active July contract of arabica coffee on ICE was at 130.4 cents per pound, down 0.3% from previous close. Lack of adequate rainfall in Brazil main coffee growing areas may hamper growth of coffee beans and lead to a drop-in production in 2018, Futures of arabica coffee have been under pressure due to speculative selling due to lack of major cues and no major movement in currencies,

Turkey resumed imports of Ukrainian wheat.
Ram Gopal Yadav (9 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).

Govt FY18 wheat procurement up 13% on year at 20.5 million tonne.
Ram Gopal Yadav (9 years ago)

The government has procured 20.5 million tonne wheat in 2017-18 (Apr-Mar) up 13% from a year ago. Procurement was highest in Punjab where 8.8 million tonne of wheat has been bought so far, up 5.8% from a year ago. Centre has set a target of procuring 11.5 million tonne wheat from Punjab. The second-largest contributor was Haryana where the government has procured 6.4 million tonne wheat so far and is close to achieving its target of 7.5 million tonne for the 2017-18 marketing year. In Madhya Pradesh, another major producer of wheat, 4.2 million tonne has been procured so far, up 24.1% from a year ago. The government has set an 8.5- million tonne target for wheat procurement in Madhya Pradesh. Overall, the central government has set a target to procure 33.0 million tonne of wheat in the current marketing season that started April, up from 22.9 million tonne a year ago.

Wheat prices rise in Kota, Indore as supplies fall.
Ram Gopal Yadav (9 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 (9 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 (9 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