U.S. grain futures edged higher on previous close, boosted partly by a weaker dollar, although the scope for a significant rebound in prices appeared to be capped by ample supplies. Chicago Board of Trade wheat for May delivery was up 0.5 percent at $4.21-1/4 a bushel at 1034 GMT. The most active contract had dipped to a low of $4.17-1/2 on Wednesday, the lowest since March 31.the market remained weighed by abundant global supplies although the prospect of lower crops in the Black Sea region helped to underpin prices. Wheat crop in Russia was forecast to fall by 9 percent from last year to 66 million tonnes while a decline in production was also anticipated in Ukraine. Lower exports from Russia and Ukraine are likely to help reduce the supply glut witnessed in global grains market. May milling wheat was down by one euro or 0.6 percent at 163.50 euros a tonne.
NCDEX castor seed up 2% as output seen lower.
NCDEX castor seed up 2% as output seen lower.
Wheat consumption in Jordan levels off as refugee influx ends.
Wheat consumption in Jordan is forecast to remain virtually unchanged in the 2017-18 marketing year. At 1.32 million tonnes, the forecast for 2017-18 was up only marginally from 1.318 million tonnes during the 2016-17 marketing year. The flat forecast is in stark contrast to previous years, when Jordan experienced unprecedented growth in consumption due to the influx of Syrian refugees and a testing economic environment. Production of wheat is negligible in Jordan, with the country only turning out about 25,000 tonnes per year, a figure that is expected to remain unchanged in 2017-18. Wheat imports also are forecast flat, at 1.3 million tonnes.
Johannesburg Maize forecast seen down slightly from previous.
South Africa’s Crop Estimates Committee (CEC) is expected to slightly lower its summer maize forecast next week but a bumper harvest is still seen. The CEC, which gives its next forecast on Tuesday, is seen pegging the harvest at 14.175 million tonnes, about 1% lower than its previous estimate of 14.32 million tonnes. This would still be over 82% more than the 7.78 million tonnes reaped last year, when drought hit the crop, pushing up food prices and inflation. The range was 13.5 to 14.6 million tonnes. yields depressed slightly in parts of the country’s maize belt where plantings were late and recent rainfall has been scattered.
Dairy body to buy 1,500 tonne de-olied rice bran.
The National Cooperative Dairy Federation of India buy 1,500 tonne de-oiled rice bran through a reverse electronic auction. The commodity, used as cattle feed, will be bought on behalf of Karnataka Milk Federation. The federation, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products
NCDEX coriander down 1%; demand low, inventories up.
Futures contracts of coriander on the NCDEX were trading 1% lower because of weak demand from domestic retailers. The fall in prices was also triggered by a 518 tonne rise in inventories at exchange-designated warehouses to 18,586 tonne. The most active May contract on the NCDEX traded down 1% from the previous close. In Kota, the benchmark market in Rajasthan, the Badami variety of coriander and the Eagle variety both unchanged from previous close. Arrivals were pegged at 6,000 bags (1bag=40 kg) down 2,000 bags from the previous day.
All-India cotton arrivals down at 74,200 bales.
Arrivals of cotton in major spot markets across the country were pegged at 74,200 bales (1bale=170 kg) on previous close, down from 81,500 bales on previous close.
In 2016, Ukraine exported more than 5.5 mln tonnes of wheat.
In 2016, Ukraine exported more than 5.5 millon tonne of wheat and 841 thousand tonnes of oilseeds to Egypt, or over 12% of the general Ukrainian exports of the reporting products. Ukraine has a very responsible approach to the phytosanitary condition of grains for exports. And Egypt is one of the main countries-importers of Ukrainian grains. Ukraine takes the leading positions in global grain exports, due to its geoclimatic conditions and active rates of agricultural development. In 2016, Ukraine managed to increase the exports of grains and oilseeds by over 7% compared with the previous year – to 44.4 millon tonne.
Rajasthan year to Jun chana output seen up 64.5% on year.
Rajasthan year to Jun chana output seen up 64.5% on year.
Higher yields driving rice output in Bangladesh.
Rice production in Bangladesh is expected to increase 0.4% to 34.7 million tonnes in the 2017-18 marketing year, driven by higher yields in the region. Planted area for the country is forecast down 0.3%, to 11.7 million hectares, on lower Boro and Aus rice planted area. Farmers are reportedly switching to more profitable crops like maize, potato, jute, pulses and oilseeds. planted area for Aman rice (planted in July/August and harvested in November/December) rise to meet staple food demand and to avoid switching crops during the monsoon season. Rice imports for 2017-18 are forecast at 125,000 tonnes, up from 100,000 tonnes in 2016-17, on expectations of better pricing from regional suppliers.
Farm body sells 250 tonne urad via NCDEX spot.
Farm body sells 250 tonne urad via NCDEX spot.
Maize prices tad up in Purnea on good demand.
Prices of maize rose marginally in the key market of Purnea in Bihar, as demand from other states as well as Stuckists rose. In Purnea, maize was sold up 10-15 rupees from previous close. Demand from companies such as Godrej, Cargill and Sugna was firm Arrivals in the market were pegged at 3,000 tonne unchanged from previous close. Arrivals of the coarse grain are likely to reach 5,000-6,000 tonne by the end of this month the most active June contract of maize on the NCDEX was up 0.6% from the previous settlement.
Urad down in Delhi on subdued demand from millers.
Urad down in Delhi on subdued demand from millers.
Maize prices rise in key spot markets.
Maize futures on the NCDEX ended higher due to good demand from buyers for the new crop. The May contract of rabi maize ended at 1,407 rupees per 100 kg, up 0.8% from previous close.
NCDEX mustard seed at 2-year low as output seen higher.
NCDEX mustard seed at 2-year low as output seen higher.
NCDEX coriander up on short covering, low output.
Futures contracts of coriander on the NCDEX were up as investors covered their short positions after prices fell to a five-week low of 6,900 rupees per 100 kg on Tuesday. A 2,420-tn decline in open interest in the May contract indicated short covering. The most active May contract on the NCDEX traded up 0.2% from the previous close.
Weak local demand weighs on mustard prices in Jaipur.
Weak local demand weighs on mustard prices in Jaipur.
Coriander prices fall in Ramganj on higher arrivals.
Prices of coriander were down in Ramganj as arrivals were higher. In Ramganj, a key wholesale market in Rajasthan, the Badami variety of coriander and the Eagle variety both down 100 rupees from previous close. Arrivals in Ramganj were pegged at 20,000 bags (1bag=40kg) up 7,000 bags from the previous day.
Ukraine set for smaller 2017 soybean crop this year.
Ukraine set for smaller 2017 soybean crop this year.
NCDEX cotton oilcake down on weak demand, spot cues.
Futures contracts of cottonseed oilcake on the NCDEX fell because of weak demand in physical markets. The most active May contract of cottonseed oilcake on the NCDEX was down 0.5% from the previous close. In Akola, the benchmark market in Maharashtra, cottonseed oilcake and in Kadi, Gujarat, both down 20 rupees from previous close. Cheaper alternatives for cattle feed such as mustard feed and guar feed weakened the demand for cottonseed oilcake.