Even though the take-in increased to 96% from 94% the previous week, the average price of wheat in the Food Corporation of India (FCI) e-auction on Wednesday remained steady, indicating that demand will stay strong till the new crop starts arriving around mid-March. Since it began selling wheat on June 28 to increase the amount…
The recent policies of the government affecting the pulses sector are betraying New Delhi’s chaotic thinking and knee-jerk reaction. First, as part of the agricultural market reform package, the government placed lentils outside the ambit of the law to intimidate other essential commodities such as oilseeds. The move sought to justify the removal of stock…
Chicago corn futures fell 1.5% on Monday as rains eased traders’ worries about limited global distribution and put pressure on prices. Soybeans fell 1%, while strong Chinese demand saw lower losses, while wheat was lower. Tobin Corey, director of the Commonwealth Bank’s agricultural strategy, said: “Weekend rains in arid regions will reduce crop stress for…
The Center on Wednesday reported 418.47 lakh tonnes of wheat so far in the current marketing year, which began in April. Wheat registration has been procured since late November 2020 amid protests by farmers across the Delhi border. Farmers’ unions are demanding the repeal of three new farm laws and a legal guarantee of a…
The European Commission on Thursday raised its projected wheat production for the 27 EU member states to 126.2 million tonnes by 2021/22. This was 6.5% more than the 2020/21 crop of 117.2 million tonnes, as shown by the Commission’s monthly supply and demand data. The EU Commission on General Wheat or Soft Wheat Exports remained…
The Chicago-based research firm AgResource noted that the agricultural future of CBOT was flat as the agricultural market reacted to the rapid expansion of consumer demand. Fallen U.S. AgResource is positive for the agricultural futures amid dollar and strong consumer demand, suggesting that any early weekly correction offers a new buying opportunity. Spot CPOD corn…
Russia’s export prices for summer new wheat fell last week following falling global standards in Chicago and Paris, IKAR Agricultural Consultancy said in a statement on Monday. Russia, one of the world’s largest wheat exporters, usually begins harvesting in late June-early July. Although a small crop, its Ministry of Agriculture said last week that it…
