Prices of maize rose in the key market of Nizamabad, Telangana, due to firm demand from the poultry sector. The coarse grain was sold in Nizamabad, up 20 rupees from previous close. Arrivals during the day were around 3,000 bags, each carrying 100 kg of the grain. On the NCDEX, the most-active May contract ended 0.9% down on hope of rise in arrivals in the days ahead. Wheat and maize futures are expected to remain subdued as arrivals are likely to pick up in the days ahead.
Ukraine Corn planting lags 66% behind last year.
Due to this year later start of corn planting against 2016 and in view of last week weather deterioration in Ukraine. This work already lags 66% behind last year. Corn was sown on 688 thousand hectares (15% of its projected area) compared with 2023 thousand hectares at the same date last year (45% of the projected).
NCDEX coriander up on short covering, low crop view.
Futures contracts of coriander on NCDEX rose as investors covered their short positions after prices hit a six-week low on previous close. The most-active May contract on the bourse was up 0.5% from previous close. Anticipation of decline in production in 2016-17 (Oct-Sep) also boosted coriander prices. In Kota, market in Rajasthan, the Badami variety and Eagle variety of coriander both up 200-300 rupees from previous close. Arrivals in Kota were at 4,000 bags (1bag=40 kg), up 1,000 bags from previous day.
Cotton area seen up 10% in 2017-18 but harvest hinges on rain.
Cotton farming in the country is seen gaining ground next season as favorable prices this year have again stirred the interest of farmers in the fiber crop. The acreage under cotton is likely to increase 10% to more than 11 million ha in the season starting Oct 1, but corresponding production estimates depend largely on how the monsoon pans out. In the current season, the acreage under cotton had fallen 12% to 10.5 million ha on fears of pink bollworm infestation and whitefly attack, which had damaged a large quantity of the crop in 2015. Record high prices of many pulses in the previous year had also prompted the shift away from cotton. Cotton output rose marginally to 34.05 million bales (1bale=170kg) from 33.8 million bales due to a sharp rise in yields across states owing to conducive weather conditions.
Rice basmati declines on tepid demand.
Rice basmati prices dipped by rupees 100 per quintal at the wholesale grains market owing to slackened demand. Muted demand from retailers against ample stocks position led to decline in rice basmati prices. In the national capital, rice basmati Pusa-1121 variety fell by rupees 100 per quintal.
ICRA anticipates sugar prices to remain firm.
ICRA anticipates sugar prices to remain firm.
Sugar prices up in north India, unch in Maharashtra
Sugar prices up in north India, unch in Maharashtra
China considers raising tariffs on sugar imports.
China considers raising tariffs on sugar imports.
Higher arrivals weigh on barley prices in Jaipur.
Higher arrivals weigh on barley prices in Jaipur.
Weak domestic demand weighs on Jaipur mustard prices.
Weak domestic demand weighs on Jaipur mustard prices.
Edible Oil down on lower demand from the millers.
Edible Oil down on lower demand from the millers.
Chana prices in Delhi up tracking gains in tur.
Chana prices in Delhi up tracking gains in tur.
Delhi wheat rises on firm demand.
Wholesale prices of wheat rose due to firm demand. In market of Delhi, prices of wheat rose due to firm demand from godowns. The grain was quoted up 5 rupees from previous close. Demand from godowns and Stuckists was high, that from mills was weak. Arrivals of wheat in Delhi unchanged at around 40,000 tonne. Futures of wheat however were trading lower on the National Commodities and Derivatives Exchange on hope of rise in supplies as the arrival season peaks up. The most-active May wheat contract on the NCDEX ended down 0.7% from the previous close.
Tur sees up in Akola due to high demand.
Tur sees up in Akola due to high demand.
Global warming hit India wheat crop in 5-15 year.
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.
Maharashtra tur procurement may touch record high of 500,000 tonne.
Maharashtra tur procurement may touch record high of 500,000 tonne.
Source says Maharashtra 2017-18 cane area seen rising 29%.
Source says Maharashtra 2017-18 cane area seen rising 29%.
Sugar prices up in north India as demand rises, down in Maharashtra.
Sugar prices up in north India as demand rises, down in Maharashtra.
Govt gets applications to import 6 times the allowed raw sugar quota.
Govt gets applications to import 6 times the allowed raw sugar quota.
India wheat output exceed the government official estimate at 98-99 million tonne.
India wheat output exceed the government official estimate of 96.6 million tonne and rise to 98-99 million tonne in the ongoing season that ends June. In 2015-16 (Jul-Jun), the country had produced 92.3 million tonne of wheat.