In 2012, the sowing areas of maize in Ukraine will increase by 440 thousand hectares - to 4 million hectares, declared by Director of the department of crop-growing agriculture of the Ministry of Agrarian Policy and Food of Ukraine.
Agrarians will review the structure of the spring crop sowing areas in 2012. In the current year Ukraine increased sowing areas of maize by 600 thousand hectares - to 3.6 million hectares.
The Ministry of Agrarian Policy and Food of Ukraine reduced the forecast of grain exports in 2011-2012 marketing year (July 2011 - June 2012) by 11-12% - to 23-24 million tonnes, as opposed to the previous forecast of 26-27 million tonnes.
This is mainly due to unfavorable weather conditions for winter crops sowing areas which were established to date in Ukraine, the Government almost doubled the forecast of the carry-over stocks of milling grains - from 2.4 million tonnes to 5 million tonnes.
Chana futures shrugged off by more than Rs 100 per quintal from their intraday highs on the account of strong production estimates from Australia along with rise in sowing acreage in the major producing states.
The latest report release by Australian Bureau of Agricultural and Resource Economics and Sciences (ABARE) stated that the total desi chana production in Australia is likely to increase by 15000 tonnes to 3.94 lakh tonnes in 2011-12 despite of weak sowing acreage.
The total sowing acreage of the desi chana crop was estimated at 2.83 lakh hectares, down almost 91% from the last year. The strong production estimates is mainly on the back of steady production yield in the current year.
Moreover, strong sowing acreage in the major producing states also added some selling in futures market .
The latest data release by Ministry of Agriculture mentioned that the total sowing acreage of chana was at 75.95 lakh hectares as on 2nd December 2011, up almost 2.03 lakh hectares from the last year in the same period. This was mainly due to strong sowing progress in Rajasthan and Madhya Pradesh in the wake of remunerative prices in both domestic and international market.
Consequently, the future prices of Chana Ncdex tips January Benchmark contract wilted almost Rs 120 per quintal from their intraday highs to trade at Rs 3193 per quintal today.
The NCDEX Jeera futures rose today, cutting its five session losing streak as some buying emerged at lower levels. Traders have been eying a generous crop in the ensuing season and sowing is in full flow. The benchmark NCDEX January 2012 futures have been under a lot of selling pressure off late and today's surge is not expected to last long.
The benchmark Jan 12 contract trades at 13689 Rs./Quintal, after hitting a high of 13789 Rs./Quintal. The contract edged up by Rs 219 or1.63% during the session and added 0.08% in the open interest, which stood at 14943 lots as against 14931 lots yesterday
The December contract trades at 13390 Rs./Quintal, after hitting a high of 13499 Rs./Quintal. The contract spurt by Rs 199 or1.51 percent during the session and dropped 2.83% in the open interest, which stood at 10491 lots as against 10797 lots yesterday.
The December contract trades at 13390 Rs./Quintal, after hitting a high of 13499 Rs./Quintal. The contract spurt by Rs 199 or1.51 percent during the session and dropped 2.83% in the open interest, which stood at 10491 lots as against 10797 lots yesterday.
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