CBOT wheat prices were pressured by weather factor.
Ram Gopal Yadav (7 years ago)

CBOT wheat prices declined (-3.44%). In the spot market, the supply price for US wheat (April delivery) lost USD 6. Despite the information on winter wheat conditions worsening in the largest producing states of the USA–Oklahoma and Kansas, the wheat futures continued to go down. The prices were pressured by a weather factor–a rain forecast in the regions of winter wheat production in the USA, which will refill soil moisture reserves.

Wheat up in spot market post import duty.
Ram Gopal Yadav (7 years ago)

Prices of wheat rise in major wholesale markets of the country after the govt levied 10% customs duty on import of wheat. Demand from bulk buyers was higher as the duty is expected to restrict imports, which will affect supply in the domestic market. The impact is likely to be offset by high arrivals of the new crop. In Kota, about 70,000 bags (1bag=100kg) arrive every day and supplies are likely to cross 100,000 bags in the next 15 days. Wheat prices also rise in Delhi. Prices remained unchanged in Indore market as arrivals were high and traders do not expect the import duty to have an immediate impact on supplies.

Barley down in Jaipur on low demand, rise in arrivals.
Ram Gopal Yadav (7 years ago)

Prices of barley fell down in Jaipur because of less demand from the malt industry, feed sector and stockists. Arrivals of the new crop were pegged at 180,000 bags (1bag=85kg) compared with 170,000 bags. On the NCDEX, the most-active April contract of barley traded down nearly 0.2%.

Japan seek to buy 200,000 tonnes barley via tender.
Ram Gopal Yadav (7 years ago)

Japan Ministry of Agriculture said it would buy 200,000 tonnes of feed barley to be loaded by July31 and arrive in Japan by Sept. 29, via a simultaneous buy and sell auction that will be held on April5. The tender is usually conducted weekly, but the ministry skipped the tender this week due to an adjustment at the end of the fiscal year that will end on March31. Japan buys and sells its barley via simultaneous buy and sell auction, in which end-users and importers specify the origin, price and quantity of grain, allowing millers to meet their varied needs for the feed grain.

Govt imposes 10% import duty on wheat with immediate effect.
Ram Gopal Yadav (7 years ago)

Govt has imposed a 10% customs duty on import of wheat with immediate effect to restrict fall in their prices following a bumper crop in the country this year. Govt had scrapped the 10% import duty on wheat as supply in wholesale markets had dried up and prices had hit a record high. In the benchmark Indore market, wheat was sold lower than the MSP. After the removal of the duty in December, imports of wheat rise to a record 5 million tonnes in the current financial year.

Syria gets 50,000 tonnes of Russian wheat in aid.
Ram Gopal Yadav (7 years ago)

Syria has received 50,000 tonnes of Russian wheat as humanitarian aid. Russian govt said in November their country plans to send around 100,000 tonnes of wheat as aid to Syria. A deal struck in October for Syria to buy 1 million tonnes of Russian wheat with little known firm Zernomir is in jeopardy.

Govt to spend Rs225 billion on wheat procurement in Pakistan.
Ram Gopal Yadav (7 years ago)

Govt decided to purchase Rs225 billion worth of 7.05 million tonnes wheat, allow export of 200,000 tonnes of sugar and to pay one-month salary to Pakistan Steel Mill employees. The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet presided over by Finance Minister Ishaq Dar.

Guyana cleared for paddy exports to Mexico.
Ram Gopal Yadav (7 years ago)

Guyana will now be able to bid on three quotas, totalling 30,000 metric tonnes of paddy for export to Mexico, following the Govt of Mexico decision to allow the tax-free importation of 150,000 metric tonnes of paddy and rice products from outside of the North American Free Trade Agreement(NAFTA) member states. Normally taxes for countries, other than NAFTA member states, trading with Mexico, are 9% on paddy and 20% on rice products.