Latest Report on Wheat Daily | Wheat_Daily 20170509.pdf
Latest Report on Sugar | Sugar Daily 20170509.pdf
Latest Report on Sugar | Sugar Daily 20170509.pdf
Latest Report on Maize Daily | Maize_Daily 20170509.pdf
Latest Report on Maize Daily | Maize_Daily 20170509.pdf
Latest Report on Rice | Rice Daily 20170509.pdf
Latest Report on Rice | Rice Daily 20170509.pdf
Indian Basmati Rice FOB Firm in April by 7.5%.
Indian FOB for 1121 steam in the month of April moved firm from last month and currently is in the range of USD 1229-1230/MT which is up by 7.5% from last month price of USD 1143/T. Average basmati rice price too firmed this month with higher demand and lower stocks. However, from last one week prices traded weak due to profit booking by traders. According to the UN Food and Agriculture Organization (FAO), Currently Pakistani basmati FOB is also moving firmer from last seven months due to lower production estimates and now it is hovering in the range of USD 1203-1205/MT which is also up by 11.66% from last month FOB of USD 1078/MT.
NCDEX sugar rises as traders buy at lower levels.
Futures contracts of sugar on the NCDEX rose as traders bought the commodity at low prices. The most active June sugar contract was up 0.5% from the previous close. sugar prices were largely bearish due to a fall in prices in global markets and on expectation of a rise in imports. Contracts on the NCDEX, however, are seen bearish in the days ahead, tracking weakness in global prices.
Sugar down in Delhi as demand falls at higher price levels.
Prices of sugar fell in the key wholesale markets of Delhi due to sluggish demand at higher prices. Sugar prices fell by 5 rupees per 100 kg in Delhi. Prices of the sweetener were unchanged in the key wholesale markets of Muzaffarnagar, Mumbai, and Kolhapur because of subdued trade. Mill owners did not lower prices of sugar despite a fall in demand. Traders across the country are bearish on the sugar prices in the near term. Prices are expected to be lower in north India due to higher sugar output in Uttar Pradesh. Mills across Uttar Pradesh produced 8.73 mln tn sugar during Oct 1-May 8, up 28.4% on year. The state had produced 6.80 mln tn sugar during the corresponding period a year ago. Average sugar recovery in Uttar Pradesh as of now is 10.61%, slightly higher than 10.60% a year ago.
Uttar Pradesh Oct 1-May 8 sugar output 8.73 million tonne, up 28.4% on year.
Mills across Uttar Pradesh produced 8.73 million tonne sugar during Oct 1-May 8, up 28.4% on year. The state had produced 6.80 mln tn sugar during the corresponding period a year ago. Mills in the state have crushed 82.31 mln tn cane so far, compared with 64.14 mln tn in the year-ago period. Average sugar recovery in Uttar Pradesh as of now is 10.61%, slightly higher than 10.60% a year ago.
Sugar prices flat in spot market on subdued trade.
Prices of sugar were unchanged in the key wholesale markets of Mumbai and Muzaffarnagar because of subdued trade. Mill owners did not lower prices of sugar despite a fall in demand. Earlier this month, prices had risen as retail and bulk demand had improved. Prices at both the markets were unchanged from previous close. On the NCDEX, the most-active May contract traded up 0.2% from the previous close.
North India Oct-Apr cotton arrivals up 31% on year.
Arrivals of cotton in northern India increased 31% on year during Oct-Apr to 4.42 million bales (1bale=170kg), cotton output in the northern zone, which includes Punjab, Haryana and Rajasthan, to rise to 4.48 million bales from 3.75 mln bales the previous year. Cotton output had fallen last year as over 50% of crop in Punjab was destroyed by severe white fly attack. Mill consumption demand during Oct-Apr was pegged at 4.42 million bales, compared with 3.33 million bales last year.
All-India cotton arrivals down at 57,500 bales.
Cotton arrivals at major spot markets across the country were at 57,500 bales (1bale=170kg) down marginally from 57,600 bales.
MCX cotton down on high output forecast, global cues.
Futures contracts of cotton on the MCX were lower due to expectations of higher crop in 2017-18 (Oct-Sep). Prospects of higher sowing across states and forecast of a normal monsoon dampened the market sentiment. Subdued demand for the commodity in the spot market because of inferior quality of arrivals also weighed on prices. Weakness in cotton futures on ICE contributed to the fall. On the MCX, the May contract of cotton traded down 0.5% from the previous close. The most active July contract traded at 77.44 cents per pound, down 0.4%.
NCDEX coriander volatile, hits 3% lower circuit.
Futures contracts of coriander on the NCDEX erased early gains and hit 3% lower circuit despite imposition of special margin on sell-side. Profit booking by investors after prices hit a one-week high led to the decline in prices. The total margin on coriander is 17.5%, including additional margin of 2.5%, on all running and yet-to-be-launched contracts. The front-month May contract on the exchange traded down 1.2% from the previous close, while June contract was down 1.3%.
Maize rabi futures fall on muted spot demand.
Maize rabi prices drifted lower by Rs 20 per quintal in futures trading after speculators shrank their holdings amid a weak trend at the physical markets on subdued demand. Tracking a weak trend at the spot markets on low demand from poultry feed makers, led to the fall in maize prices at futures trade. NCDEX maize for delivery this month dipped by 1.51 per cent per quintal, in an open interest of 170 lots. Maize for delivery for most-active June contracts fell by 0.76 per cent per quintal, having an open interest of 8,220 lots.
Maize down in Bihar.
Prices of maize fell in Bihar benchmark Purnea market as arrivals are at their peak. About 100,000 bags (1bag=100kg) of maize arrive in Purnea daily and arrivals are likely to continue till the end of this month. The coarse grain was selling down 20-25 rupees from previous close. Maize futures on the NCDEX also fell and the most active June contract ended down 0.8% from previous close.
Dairy body to buy 600 tonne and 3,300 tonne maize via e-auction on 10 May.
The National Cooperative Dairy Federation of India buy 600 tonne tuesday and 3,300 tonne of maize through a reverse electronic auction on Wednesday. The commodity, used as cattle feed, will be bought on behalf of Rajasthan Cooperative Dairy Federation. The federation, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.
CBOT wheat falls 1% as weather conditions ease in US.
The most active July wheat contract on the CBOT fell 1% due to better weather conditions in the US. The July wheat contract was at $4.3750 a bushel, down 1.1% from the previous close. Weather conditions in the wheat growing areas in the US are easing now after heavy rains and storms during the last week. The demand for wheat contracts is also weak due to sharp rise in prices following the crop damage concerns.
Wheat price up in Delhi, unchanged in Kota.
Prices of wheat rose in the key market of Delhi due to good demand from private buyers and a fall in supplies. Mill quality wheat was sold up 25-30 rupees from Saturday. Prices were unchanged in Madhya Pradesh. Demand from companies like ITC and other bulk buyers is good while arrivals are falling now as most farmers are stocking their crop. The most active June wheat contract on the NCDEX ended up 0.4% from previous close while the current month contract ended up 0.7% from previous close.
Wheat prices unchanged in Indore on subdued trade.
Wholesale prices of wheat in the benchmark market of Indore, Madhya Pradesh, were unchanged because a fall in arrivals of the grain was offset by weak demand from flour mills. In Indore, mill-quality wheat was sold at largely unchanged from Saturday. Arrivals in Indore were at about 8,000 bags, each carrying 100 kg of the grain, down from 10,000 bags on Saturday. On the NCDEX, the most active June contract of wheat was up as investors continued to buy at lower prices for the second consecutive session after prices fell earlier. On NCDEX, the most active June wheat contract was up 0.3% from the previous close.
Govt procures 26.4 million tonne wheat so far, up 20.2% from a year ago.
The government has procured 26.4 million tonne wheat so far in the 2017-18 marketing year ending march, up 20.2% on year. The purchases are highest in Punjab where the government has procured, 11.4 million tonne wheat, slightly lower than its target of 11.5 million tonne. The government total wheat procurement across the country is still short of its target of 33 million tonne for the current fiscal. The government has so far purchased 5.6 million tonne wheat in Madhya Pradesh up 48% from a year ago but lower than the target of 8.5 million tonne for the current year.