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.
Chana rises in Delhi as govt extends peas import ban.
Despite higher arrivals, chana prices in Delhi rose as the government extended the import ban on peas for another three months until December and on improved demand from the dal millers. In Delhi, the pulse was sold at 4,425 rupees per 100 kg, up 75 rupees. Halt in the chana sales by NAFED is also seen creating positive sentiments.
Cabinet approves proposal to hike MSP on rabi crops.
The farm pricing panel has also recommended an increase of 220 rupees per 100 kg in the support price for chana to 4,620 rupees. Farmers of masur, another key rabi crop, may get a minimum support price of 4,475 rupees per 100 kg as against 4,250 rupees last year. 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.
Maharashtra to buy paddy, maize, jowar.
Maharashtra’s State Co-operative Marketing Federation along with Adivasi Vikas Mahamandal will start procurement of maize, paddy, jowar, bajra and other coarse cereals on behalf of Food Corp of India. Procurement of paddy (in Maharashtra) will start from now, while that of maize, jowar and bajra will commence from Nov 1. The government will procure fair average quality common paddy variety at 1,750 rupees per 100 kg and grade “A” variety at 1,770 rupees per 100 kg. Procurement of maize will be at 1,700 rupees, bajra at 1,950 rupees and jowar hybrid variety at 2,430 rupees and Maldandi variety at 2,450 rupees per 100 kg. The registration and buying of the farmers’ produce will be done online through NCDEX e-Markets Ltd, formerly known as NCDEX Spot Exchange Ltd. Output of kharif rice in the country in 2018-19 (Jul-Jun) is estimated at 99.24 mln tn, up 1.8% on year, kharif maize output is forecast at 21.47 mln tn, up 6.1%, while that of kharif jowar is estimated at 1.88 mln tn, down from 2.10 mln tn in 2017-18.
Maize prices largely unch on limited demand.
Spot price of maize in key Davanagere market in Karntaka was steady at 1,400-1,450 rupees per 100 kg. Demand from bulk buyers is limited because of less availability of good quality crop. Currently, maize prices are stuck in a range as buyers are waiting for fresh crop arrivals to begin, which could exert pressure on spot prices.
Corn futures are fractionally higher.
They closed with most contracts 1 to 2 1/4 cents higher supported by gains in the wheat complex. Trade Ministry data shows Brazil’s September corn exports at 3.424 MMT, up 18.11% from August but down 42.12% from last year.
Jaipur barley up on demand from feed sector.
Prices of barley rose in Jaipur due to higher demand from the poultry feed sector and domestic stockists. In Jaipur, the benchmark market for the commodity, the coarse grain was sold at 1,600 rupees per 100 kg, up 10 rupees. Negligible supply in the market also supported prices. Only a couple of bags, each carrying 85 kg of barley, arrived in the market, due to low stocks with farmers.
Pricing panel moots 1,440 rupee/100 kg barley MSP ’18-19.
Pricing panel recommends 30 rupees/100 kg hike in barley MSP. 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. The Commission for Agricultural Costs and Prices has recommended a hike of 105 rupees per 100 kg in minimum support price for key rabi food grain.
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 slips on reduced offtake by flour mills.
Wheat prices slipped by Rs 15 per quintal at the wholesale grains market due to reduced offtake by flour mills against adequate stocks position. However, other grains held steady in thin trade. Besides fall in demand from flour mills, sufficient stocks position on increased arrivals from growing regions mainly weighed on wheat prices.
EU wheat falls on poor demand, high global supplies.
European wheat prices pared gains, pressured by a lack of demand for European supplies and reports of a record wheat harvest in Argentina. Benchmark December milling wheat on Paris-based Euronext closed 0.50 euro or 0.25 percent lower at 200.50 euros a tonne. Reached 202.75 euros in earlier trade. Argentina’s 2018/19 wheat harvest is expected to reach a record 19.7 million tonnes, up from 17.8 million tonnes last year.
The Latin American country is competing with European wheat on many international markets.
Demand for French wheat has been shrinking, with port data showing a thin line-up aiming to France’s main client Algeria with nearly no exports to West Africa. French port silos are full so deliveries are being slowed down, although not halted, due to a lack of room.Silos are full in (the Atlantic port of) La Pallice and in Rouen and export prospects for October are thin or non-existent.
Iraq buys 100,000 T wheat, 90,000 T rice in direct deals.
Iraq’s trade ministry said it bought 100,000 tonnes of wheat and 90,000 tonnes of rice in direct deals, outside of the international tendering process.Of the total, Iraq bought 50,000 tonnes of US wheat and 50,000 tonnes of Australian wheat.
Ukraine keeps wheat export memorandum for 2018/19 unchanged.
Ukraine will not review a recently signed memorandum with traders on the volume of wheat available for export in the 2018/19 season. The memorandum allows the export of 8 million tonnes of milling wheat and 8 million tonnes of feed wheat.
Khammam Production of maize to touch 30,000 tonnes.
Maize production is expected to cross 30,000 tonnes this year. Maize was sown in 13,000 acres in Khammam and Bhadradri districts and the extent of the irrigated dry crop is increasing by the year. Farmers at large in Mudigonda, Kusumanchi, Bonakal, Errupalem and Chintakani mandals in Khammam district and Allapalli, Sattupalli, Yellandu, Tekulapalli, Mulakalapalli and Chandrugonda mandals in Bhadradri district opted to sow maize. The crop is now at harvesting stage and his is creating tension among the farmers as they remember the horrible experiences of last year. Delayed lifting led to crop getting damaged in the fields due to rains last year. The resultant losses were put at around Rs 5 crore. The delayed lifting also forced farmers to stay at the lifting centres over three days or more. Private traders, who cashed in on the the situation, bought the damaged maize at throwaway prices.
Moong acreage up 7.4% on year at 3.44 mln ha.
Moong acreage across the country rose 7.4% on year to 3.44 mln ha, largely due to a rise in area under the crop in Rajasthan and Karnataka.
Serbia’s 2018 wheat output rises 29.3%.
Serbia’s 2018 wheat output rose 29.3% on the year to 2.942 million tonnes. The harvested area increased to 648,083 hectares in 2018, from 557,702 ha last year. Maize production is seen at 6.965 million tonnes in 2018, up 73.3% over the previous year.
Japan offers to buy 109,150 T of food wheat via tender.
Japan’s Ministry of Agriculture sought to buy 109,150 tonnes of food-quality wheat from the United States, Canada and Australia in a regular tender.
Taiwan tenders to buy 110,000 tonnes wheat of US-origin.
The Taiwan Flour Millers’ Association has issued an international tender to purchase 110,000 tonnes of grade 1 milling wheat to be sourced from the United States. The tender deadline is Oct. 2. The wheat is sought in two consignments both of 55,000 tonnes for shipment from the US Pacific Northwest coast.
Bangladesh opens new November wheat tender.
Bangladesh’s state grains importer, CCPP, has opened a tender to buy 50,000 mt of milling wheat from the international.