Khammam Tender has been awarded for 12000 at a price level of 13514/- pmt. This level seems to have been made the benchmark by the government to release the cargoes. Destination markets with this non release of cargo till date has firmed up by Rs 200-300/- pmt across destination and are as mentioned below

Tamil Nadu :- Rake 1370-1390 (quality issues), Trucks 1470-1530

Bangalore :- Rake 1360-80, Trucks 1450-1480

Hyderabad :- trucks 1480-1520.

Ahmedabad :- 1330-1340/1400 (super quality cargo buying)

Bihar :- 1140-1160 Rake point, 1270-1290 warehouse.

North :- 1325-1425 (average to best quality prices ) cargo for Haryana/Punjab

Sangli    : -1350-1375

Exchange :-

Oct traded 1305 with an open interest of 50 mt, spot price of 1270 and exchange cargo of 900 + mt.

International Market :-

Corn soybean spreads will continue to be seen going forward in the crop year, Chinese buying of us corn continues and we might see some non regular trade flows for south east asia this year. Cbot dec contract is trading at 355 3 cents lower from yesterday’s closing at 358 cents/bushel. Sep WASDE report is important from updates on the US crop  & yields. Till then expect market to trade sideways or take the direction from the soyabean market.

Weather :-

We have rains forecast for Karnataka regions rest of the maie growing regions to have scanty to light rainfall in the coming 4-5 days. This looks good for the crop progression in the key growing areas.

 

Sensex and Nifty

Sensex and Nifty ended a volatile day with sensex ending up 185 points higher and nifty higher by 64 points, Rupee is trading at 73.07 versus close of 73 yesterday.

13500 seems to be the mantra for the AP/Telangana govt to allot cargo for tenders from the farmer purchases.