The Government Wednesday announced 6 per cent hike in support price of wheat at Rs 1,840 per quintal, a move that will give farmers an additional income of Rs 62,635 crore and help contain their simmering discontent over high input cost and low sales realisation. The decision comes within months of announcing higher price for Kharif crops, when the government fulfilled its promise of giving farmers 50 per cent more price than their cost of production. The Cabinet has approved a Rs 105 per quintal hike in wheat MSP to Rs 1,840 for 2018-19 season.
USDA arm sees Thailand 2018-19 sugar output down 6% at 13.8 mln tn.
USDA arm sees Thailand 2018-19 sugar output down 6% at 13.8 mln tn.
FAO says India Jan-Sep avg export price of non-basmati rice up 5.8%.
FAO says India Jan-Sep avg export price of non-basmati rice up 5.8%.
Centre gives in-principle nod for rice procurement in Puducherry.
Centre gives in-principle nod for rice procurement in Puducherry.
India soybean arrivals up 100,000 bags vs Thursday.
India soybean arrivals up 100,000 bags vs Thursday.
India Edible Oil All up, soybean gains on Chicago cues.
India Edible Oil All up, soybean gains on Chicago cues.
Indore soybean up on higher demand, lower arrivals.
Indore soybean up on higher demand, lower arrivals.
Malaysia CPO down on firm ringgit, weak CBOT soyoil.
Malaysia CPO down on firm ringgit, weak CBOT soyoil.
Oilmeals Export Falls 73% Over Year In September 2018.
Oilmeals Export Falls 73% Over Year In September 2018.
NCDEX mustard seed hits 2-wk low tracking spot market.
NCDEX mustard seed hits 2-wk low tracking spot market.
Traders in deals to export around 6,000 tn sugar at $300 per tn, fob.
Traders in deals to export around 6,000 tn sugar at $300 per tn, fob.
USDA arm sees Brazil ’18-19 sugar export at 11-yr low of 19.6 mln tn.
USDA arm sees Brazil ’18-19 sugar export at 11-yr low of 19.6 mln tn.
India sugar prices rise in most markets ahead of festive season.
India sugar prices rise in most markets ahead of festive season.
NCDEX Oct coriander flat tracking spot market cues.
NCDEX Oct coriander flat tracking spot market cues.
India soybean gains on Chicago cues.
Futures contracts of all components in the edible oil basket rose on domestic exchanges. The October contract of soybean on the National Commodity & Derivatives Exchange settled 1.5% higher in line with strength in the bellwether contracts on the Chicago Board of Trade. Improved demand from the solvent plants also contributed to the bullish sentiment. In key Indore market, soybean prices rose by 50 rupees to 3,200 rupees per 100 kg. Refined soyoil on the NCDEX and crude palm oil on the MCX also traded 0.5% and 1.0% higher, respectively, due to a rise in purchases ahead of festivals.
Indore soybean up on higher demand, lower arrivals.
Soybean prices in Indore rose due to lower arrivals of the crop in the market and improved demand for soymeal. In Indore, prices rose 50 rupees to 3,200 rupees per 100 kg. Indore is considered the benchmark market for the oilseed in India. Arrivals in Madhya Pradesh was seen at 200,000 bags (1 bag = 100 kg). Demand has risen due to the better quality of the crop, lifting prices in the domestic market.
Pakistan allows export of 1 mln tn sugar in 2018-19.
Pakistan allows export of 1 mln tn sugar in 2018-19.
Kota coriander unch as high supply offsets demand.
Kota coriander unch as high supply offsets demand.
Source says pricing panel moots ’18-19 wheat MSP 1,840 rupee/100 kg.
The government wants to declare the minimum support prices for key rabi crops at the onset of the season due to upcoming Assembly polls in several states. It has to be declared before the code of conduct comes into place.
Wheat futures are currently unchanged
Wheat futures are currently unchanged to 5 cents higher after posting 9 to 15 cent gains in most contracts, with MPLS the strongest in both cases. Russia’s ag safety watchdog apparently warned of a possible temporary suspension of 30 grain loading facilities for up to 90 days for phytosanitary issues. Importers had complained about poor quality in Russian shipments. NASS pegged the winter wheat planting at 43% complete, with the normal pace running 40%. The crop was 14% emerged, matching the average. Planting in the Southern Plains is ahead of the average, at 41% for KS and OK and 42% for TX. Taiwan purchased 110,000 MT of US wheat in their latest tender.