MCX cotton up on global cues, low spot mkt arrivals.
Ram Gopal Yadav (9 years ago)

Futures contracts of cotton rose on the MCX. Tracking a rise in cotton futures on ICE, and because of lower arrivals in spot markets, On the MCX, the April contract was at 20,800 rupees per bale (1bale=170kg), up 0.7% from the previous close. Most-active July contract on the ICE was at 78.23 cents per pound, up 0.08%. Strong demand for US cotton from overseas buyers lifted prices of the commodity higher on ICE. US cotton exports were at 307,200 bales in the week ended Apr 6, up 14% on week, Cotton arrivals in major spot markets across India were estimated at 81,800 bales (1bale=170kg) down from 88,800 bales on Friday.

Ukraine Winter wheat are in good condition.
Ram Gopal Yadav (9 years ago)

Over the last week, the air temperature in most of the country was a few degrees above its normal values. Precipitation of various intensities occurred all over Ukraine in the form of rain. From January 1 till April 10, many parts of Kherson, Odesa, Mykolaiv and Kirovohrad regions received at most 30-60% of normal precipitation rates for this time, therefore the recent week’s cold-spell turned out to be a beneficial factor curbing the drought development in these regions. The March-April weather conditions in Ukraine were generally favorable for crop planting and growth. The accumulated amounts of warmth and moisture supply in most of Ukraine’s crops were still at fair and optimum levels. As of today, over 70% of winter wheat crops are at the tillering stage. In fact, they have caught up with the fall lag caused by abnormally cold October and November. Roughly 30% of crops are in fair condition with a steady trend toward improvement.

Russian grain exports fall on lower Turkish buys.
Ram Gopal Yadav (9 years ago)

Russian grain exports are expected to dip between 3 and 3.1 million tonnes in April from the 3.8 millpn tonnes shipped in March, owed to a drop in Turkish purchases. Turkey, the world’s second largest buyer of Russian wheat after Egypt, is said to have placed its wheat, corn and sunflower imports on hold by imposing high import tariffs from mid-March. However, the loss of the Turkish market is likely to be temporary.

Ukraine Ag Ministry raised its forecast for 2016/17 grain exports.
Ram Gopal Yadav (9 years ago)

The Ag Ministry of Ukraine raised its forecast for the country’s 2016/17 grain exports from 41 MMT to 42 MMT. The grain export forecast for Ukraine envisages 16.6 MMT of wheat exports, 5.6 MMT of barley, 19 MMT of corn and 1 MMT of other cereals. Ukraine exported some 35.4 MMT of cereals in the 2016/17 season by April 2017, including 15.4 MMT of wheat (of which 10.1 MMT is milling wheat), 14.9 MMT of corn, roughly 4.9 MMT of barley.

Ukraine farmers started 2017 maize sowing.
Ram Gopal Yadav (9 years ago)

Ukraine says 94 packet of spring grains sown so far. Farmers have also started 2017 maize sowing, seeding 341,000 hectares, or 8 percent of a planned 4.5-million-hectare area. A week ago, the ministry saw the planted area at 4.4 million hectares. Farmers have sown 31,000 hectares of soybean out of a planned 1.9 million hectares this year. They have also sown 1.3 million hectares of sunflower, or 24 percent of the expected area of 5.4 million hectares, and 263,000 hectares of sugar beet, or 90 percent of the forecast.

DA task force sets inventory of rice stocks.
Ram Gopal Yadav (9 years ago)

Manila, Philippines – The Department of Agriculture (DA) will lead the creation of a task force to look into the nationwide inventory of rice stocks to counter allegations of a current shortage and speculation of possible importation despite a bumper harvest. The task force aims to prove that there is enough rice supply in the country and establish actual stock situation to allow the government to come up with correct statistics, which could be the basis of sound agricultural planning, particularly in terms of rice production. NFA is insisting on an immediate government-to-government importation of 250,000 metric tons (MT) of rice to boost the agency’s inventory. Latest data from the PSA showed that the country’s rice inventory in March declined by 19 percent to 2.18 million MT, from 2.67 million MT recorded a year ago. The agency reported that total rice inventory as of March was also five percent lower than the 2.3 million MT posted in February.