Wheat futures down on supply pressure

Wheat prices fell by Rs 10 to Rs 1,178 per quintal in futures trade today on adequate supply against reduced offtake. Adequate supply following increased arrivals of new crops mainly put pressure on wheat futures prices.   At the National Commodity and Derivatives Exchange, wheat for delivery in July fell by Rs 10, or 0.84%,...

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Russia’s Wheat Harvest May Be 56 Million Tons, Grain Union Says

Russian farmers may harvest as much as 56 million metric tons of wheat this year, the country’s Grain Union President Arkady Zlochevsky said, a third more than in 2010. The new grains harvest may reach as much as 90 million tons if favorable weather continues into July, he told journalists today in Moscow. The harvest was 60.9 million tons...

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Corn Plunges Most Since November, Wheat Falls as U.S. Reports Acreage Gain

Corn futures tumbled the most since November and wheat had the biggest plunge since January 2009 as the U.S. government reported grain acreage and inventories that topped estimates by analysts. Soybeans fell, and rice rose. U.S. farmers planted 92.282 million acres of corn this year, 1.8 percent more than projected by analysts in a Bloomberg...

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Russia Lifting Grain-Export Ban May Fail to Alleviate Global Crop Shortage

Russia, once the second-biggest wheat exporter, will let a grain-shipment ban expire on July 1, a move that may fail to ease a global shortage caused by drought and flood damage to European and the U.S. crops. Futures climbed 79 percent in the past year in Chicago, the global benchmark, helped by Russia’s export ban in August after the worst...

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India: Wheat tumbles on global cues

Wheat yesterday traded with the negative node and settled -0.5% down at 1199. The International Grains Council said it has cut its forecast for the 2011/12 global wheat crop by 5 million tonnes to 667 million, citing adverse weather in the European Union and the United States. Procurement by government agencies has reached a record this...

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India: Wheat procurement up 11% on increased arrivals

Wheat procurement during the rabi marketing season 2011-12 has gone up by 11% to 24.44 million tonne (MT) so far as compared to the year-ago period on account of increased arrivals. Food Corporation of India (FCI), the nodal agency for procurement and distribution of foodgrains, had procured 22.02 MT of wheat in the corresponding period of...

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Wheat, Corn, Soybeans Called to Open Lower on Speculation Demand May Slow

What follows are opening calls for U.S. grain and oilseed markets. -- Wheat futures are called to open 8 cents to 10 cents a bushel lower on the Chicago Board of Trade, the Kansas City Board of Trade and the Minneapolis Grain Exchange on speculation that recent price gains may slow demand, while rain in the next week may improve growth prospects...

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Wheat price spike spells trouble for reliant Middle East states

Already fragile Middle Eastern governments are bracing themselves for the fallout of increased costs for wheat, The Wall Street Journal reports. The grain had shot up at least 17 percent this week as of Wednesday evening, largely as a result of inclement weather. U.S. crops endured soggy weather while Western European fields suffered from...

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Wheat prices to soar as drought deepens

The food industry is on red alert again over wheat - and this time it's wheat used in food, rather than feed, that's most at risk. This spring's dry weather is threatening wheat crops in Europe's key growing regions, with some growers in the east of the UK reporting yields down 25% on 2010. On the Continent, French wheat is forecast...

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Wheat crop could be lowest yield since 1996

MANHATTAN – Two recently completed tours of the Kansas wheat crop confirm what farmers have suspected for some time: the 2011 crop could be one of the worst in many years. Earlier this month, more than 70 participants of the Wheat Quality Council’s Hard Wheat Tour pegged the Kansas crop to total 256.7 million bushels, averaging about 37...

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U.S. Wheat Harvest May Be Worse Than Forecast

Wheat crops in the U.S. Great Plains are showing signs that production may plunge even more than the government forecast last week as hot weather and a lack of rain erode plant quality and force farmers to harvest early. As of May 15, U.S. winter-wheat was in the worst condition since 1996, with 44 percent of fields rated poor or very poor...

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French Wheat Crop to Slide Below 35 Million Tons, Adviser Says

France’s soft-wheat harvest will drop below 35 million metric tons, the smallest crop in at least four years, as a drought in the country devastates yields, farm adviser Offre et Demande Agricole said. Production will drop below last year’s 35.6 million tons, even as farmers planted the most soft wheat in three years, Alexandre Marie, a...

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Russian Milling Wheat Led Price Gains Last Week, SovEcon Says

Russian fourth-grade milling wheat rose 1.4 percent to 5,550 rubles ($197) a metric ton last week, leading price increases among grains, researcher SovEcon said. Milling rye gained 0.8 percent to 6,300 rubles a ton and third-grade milling wheat climbed 0.4 percent to 5,675 rubles a ton, SovEcon said on its website. Feed wheat was unchanged...

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Bulgaria Estimates 2011 Wheat Harvest at 3.9 Million Tons

Bulgaria expects to harvest 3.9 million metric tons of wheat this year, as the area sown with the crop is less than in 2010. Bulgarian farmers have sown 2.58 million acres (1.04 million hectares) with wheat, down from 2.78 million acres last year, when the harvest was 4 million tons, the Agriculture Ministry said in a statement yesterday....

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Sugar Rises on Speculation Surplus May Be Reduced; Cocoa Falls

Sugar rose for a fourth day in New York, the longest streak in more than three months, on speculation plunging output in top producer Brazil may help reduce the world surplus. Cocoa fell. Output in Brazil’s main producing region fell 69 percent to 795,000 metric tons between the start of the harvest in mid- March and the end of April, industry...

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