NCDEX coriander hits 4% lower circuit on weak demand.
Ram Gopal Yadav (7 years ago)

Futures contracts of coriander on the NCDEX hit their 4% lower circuit due to lack of demand from Stuckists. On the NCDEX, the most active May contract was down 2.9%. A rise in inventories at exchange warehouses also weighed on prices. Exchange-designated warehouses had 16,599 tonne of coriander, compared with 16,271 tonne on previous close. In Ramganj, a key market in Rajasthan, the Badami and Eagle variety of coriander was sold down 100-150 rupees from the previous close. Arrivals in Ramganj were pegged at 40,000 bags (1bag=40kg) unchanged from the previous day.

USDA pegs Bangladesh year-to-Jul 2018 cotton opening stock down 7% on year.
Ram Gopal Yadav (7 years ago)

The USDA Foreign Agricultural Service expects Bangladesh cotton opening stock in 2017-18 (Aug-Jul) to fall 7% on year to 1.06 million bales (1USbale=480pound). Cotton beginning stocks at 1.14 million bales. The Foreign Agricultural Service links US agriculture to the world to boost export opportunities and global food security. The US agency has projected Bangladesh year-to-July 2018 cotton crop to increase marginally by 4% on year to 130,000 bales due to favorable weather and increased acreage in long-staple American upland variety. Imports have been estimated at 6.2 million bales for the next season, compared with 6.0 million bales More than 40% of imported raw cotton and 80% of imported yarn and fabrics are used by spinning mills and the ready-made garment sector to meet export demand. Mills in Bangladesh are consuming 6.3 million bales of the commodity in 2017-18, up marginally from 6.2 million bales this year, while closing stock at the end of 2017-18 season is pegged at 1.08 million bales, up from 1.06 million bales this year.

NCDEX cotton oilcake at 4-month low on weak demand.
Ram Gopal Yadav (7 years ago)

Futures contracts of cottonseed oilcake hit a four-month low of 1,998 rupees per 100 kg, tracking a fall in physical markets. The most active May contract of cottonseed oilcake on the NCDEX traded at 2,022 rupees per 100 kg, down 1.75% from the previous close. In Akola, the benchmark market in Maharashtra, cottonseed oilcake was sold at 2,070-2,080 rupees per 100 kg, while in Kadi, Gujarat it was quoted at 2,050-2,060 rupees, both down 30 rupees from previous close. Weakness in cotton contracts on the MCX also weighed on prices of cottonseed oilcake, a derivative of cotton.

MCX cotton down as arrivals up, output seen higher.
Ram Gopal Yadav (7 years ago)

Futures contracts of cotton on the MCX inched lower today because of a rise in arrivals in wholesale markets and expectations of higher output in 2017-18 (Oct-Sep) On MCX, the April contract of cotton was at 20,550 rupees per bale (1bale = 170 kg), down 0.9% from previous close. Arrivals of cotton in major spot markets across the country were pegged at 88,800 bales on Friday, higher than 82,800 bales on Thursday. According to the International Cotton Advisory Committee, cotton output in India, the largest producer, will likely rise 2% on year to 5.9 million tonne in 2017-18. Cotton futures on NCDEX are expected to trade mixed, with a negative bias during the week.

PHL rice output likely grew 12.8% in Qtl.
Ram Gopal Yadav (7 years ago)

The country rice production in the first quarter may have expanded by 12.8 percent to 4.44 million metric tons (MMT), from 3.93 MMT recorded a year ago. Palay production for January-March 2017 may reach 4.44 MMT, 2.1 percent below the January 2017 round forecast of 4.53 MMT, but 12.8 percent higher than the previous year’s output of 3.93 MMT. The projected palay production in the first quarter of the year is higher than the actual first quarter output of 4.36 MMT recorded in 2015. In the January round of its survey, titled “Rice and Corn Situation Outlook”, the PSA said the probable increase in first quarter rice output is due to the expansion in harvest area. The continuous and heavy rainfall and strong winds that were experienced during the vegetative and reproductive stages of the crop in Capiz, South Cotabato, Leyte, Compostela Valley, Aurora, Aklan, Surigao Norte and Negros Oriental may cause production of these provinces to go down. The Philippine Statistics Authority (PSA) said harvest area in the January-to-March period may contract to 1.15 million hectares, from 1.16 million hectares, or by 0.9 percent. Also, yield per hectare may decline to 3.85 metric tons (MT), from 3.92 MT.