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Wholesale prices of wheat were unchanged in Indore, Madhya Pradesh, primarily due to the govt procurement of the grain from farmers to check a fall in prices and build up stocks. Government is procuring wheat from farmers in the state at a MSP and has procured 2.1 million tonne of wheat in the state. Around 30,000 bags (1bag=100kg) of wheat arrived in the market almost unchanged from the previous day. Around 20,000 bags of wheat arrived in Delhi, mainly from Uttar Pradesh, higher than 15,000 bags.

More than 37.15 lakh tonne wheat has arrived so far in the mandis of Haryana. Of the total arrival, the 5 government procuring agencies have purchased 37.12 lakh tonne and traders have purchased 3,000 tonnes of wheat at MSP. More than 9.36 lakh tonne wheat has been procured by Food, Civil Supplies and Consumer Affairs Department, where as Haryana State Co-operative Supply and Marketing Federation Ltd (HAFED) has purchased more than 12.54 lakh tonne wheat. FCI has purchased more than 4.25 LT wheat, Haryana Agro Industries Corporation have purchased more than 3.09 LT and more than 7.85 LT wheat has been procured by Haryana Warehousing Corporation. District Kaithal leading in wheat arrival where more than 4.71 lakh tonne of the crop had been procured followed by district Karnal, which recorded more than 4.61 lakh tonne.

Iraq Trade Ministry negotiating direct contracts for the import of rice and wheat after multiple failures to secure them through international tenders. Iraq has been struggling to import the grains for its food subsidy programmed after introducing new payment and quality terms that kept traders away from its international tenders. The Central Committee, after a failure of several tenders because of the new mechanisms for contracts, has begun to negotiate with large international companies to contract wheat.

US wheat planted area falls to record low.

U.S. wheat planted area peaked in 2008-09 at 63.2 million acres and U.S. wheat planted area has fallen 27 percent to a projected 46.1 million acres in 2017-18. It will be 16% below the 5-year average of 55.0 million acres. The increased winter wheat planted area by 360,000 acres from January 2017 estimate to 32.7 million acres. The new estimate is still 9% down from 2016-17 planted area. The increase came from hard red winter area, estimated at 23.8 million acres up 2% from the previous projection. Still, HRW planted area will be down 10 percent from 26.5 million acres (10.7 million hectares) planted for 2016-17. hard Red Winter planted area will be down 10% from 26.5 million acres planted for 2016-17. Soft red winter planted area decreased from the previous estimate to 5.53 million acres. USDA expects white wheat acres planted in both winter and spring to reach 4.12 million acres for 2017-18, down slightly from 2016-17.

The US Department of Agriculture has marginally increased its estimate for 2016-17 global wheat output to 751.36 million tonne from 751.07 million tonne, due to higher output in Pakistan. global consumption in 2016-17 has been lowered by 0.6 million tonne to 740.8 million tonne as a million tonne decrease in the US offset the small rise in other countries. Higher production and lower usage is likely to result in a rise of 2.3 million tonne in global ending stocks, which are pegged at 252.3 million tonne. The USDA cut its projection for global exports in 2016-17 due to a decrease of 0.5 million tonne each from Australia, Canada, Kazakhstan and Russia. Total global exports in 2016-17 are expected to be at 180.68 million tonne down from 181.02 million tonne.

Government has procured 3.9 million tonnes wheat so far in the current marketing year that ends in March, up 7.4% from purchases made in the same period a year ago. The procurement is highest in Madhya Pradesh, where the government has purchased 2.08 million tonne wheat so far, against 2.0 million tonnes procured. The Madhya Pradesh government is targeting purchase of 8.5 million tonnes wheat this year. against 4.0 million tonnes in the last financial year. In Uttar Pradesh, the government has bought 11,883 tonnes wheat. marginally up from 11,568 tonnes a year ago. The Uttar Pradesh government has set a target of procuring 8 million tonnes wheat this year, way above the central government’s target of 3 million tonnes. 1.5 million tonnes wheat has been procured in Haryana and 259,923 tonnes in Punjab, The Centre has set a target of 7.5 million tonnes and 11.5 million tonnes for Haryana and Punjab, respectively. the government has set the wheat procurement target for this marketing season at 33 million tonnes up from 22.9 million tonnes.

Wheat prices in the benchmark Indore market in Madhya Pradesh and the key Delhi market fell due to high availability of the grain. wheat was quoted down 10 rupees, while in Delhi, it was sold at, down from 1,755 rupees on the previous close. Around 500,000 bags (1bag=100kg) of wheat were brought in Madhya Pradesh today, up from 350,000 bag. In Delhi, 15,000 bags arrived, mainly from Uttar Pradesh, higher than 13,000-14,000 bags on previous close.

Indore market in Madhya Pradesh, the grain was sold down 10 rupees from previous close, and in Delhi, the grain was down 25 rupees, 500,000 bags (1bag=100 kg) of wheat were brought in Madhya Pradesh today, up from 350,000 bags on previous close.

Flour millers demand rebate on wheat export in Pakistan.