· FCI to offload more wheat in open market. At present, FCI has wheat stock of 31.1 MT. As per the official assessment, the corporation has around 8.7 MT of surplus wheat at its disposal after meeting the requirement under the National Food Security Act and buffer norm in the current year.
· India cabinet raises minimum support price for all kharif crops for marketing season 2023-24
· Chicago wheat December contract up US2.75/bu to 658.25c/bu, Wheat rises on global supply concern
· Kansas wheat December contract down 2.25c/bu to 810.25c/bu;
· Minneapolis wheat December contract down 2.5c/bu to 824.5c/bu;
· MATIF wheat December 2023 up €0.50/t to €236/t;
· Black Sea wheat December contract down US$1.50/t to $262.25/t;
· ASX January 2024 wheat contract up A$15/t to $396/t
· Black Sea market analyst SovEcon estimated that Russian wheat exports may reach 45.7Mt in 2023-24, surpassing this year’s record by 3pc.
· European Commission data show that EU soft-wheat exports as of June 4 are at 28.9Mt, compared with 25.9Mt last year.
· Japan’s MAFF is in the market to buy 86,922 tonnes of food-quality wheat from Canada and Australia in its regular tender that will close on Thursday.
· Wheat markets initially surged after Ukraine’s Nova Kakhovka dam was damaged in a blast, causing significant flooding along the Dnipro River.
· China’s wheat farmers face ‘disaster’ after heavy rain batters crop
· Turkey’s TMO ramps up wheat intervention price 28%