In India we continue to see both nearby and outer month chickpea futures increasing. The November contract was higher by roughly AUD$40 / tonne overnight which would make the latest price equivalent to around $1000 / tonne at the Narrabri packer.
Just recently the Indian government increased production estimates for chickpeas there to 9.3mt, around 2.3mt higher than last year. This production level will go close to covering much of their domestic requirement but imports of Australian chickpeas are still expected to be strong as this level of production does not build stocks.
Offers of Australian chickpeas increased in value if not in volume. Two weeks ago chickpeas had been offered at US$788 CiF for September delivery, around $900 per tonne equivalent at the local packer in NNSW. The last offer yesterday saw chickpeas offered at around US$848 / tonne, equivalent to around $975 / tonne at the packer in NNSW. We need to remember the trade will expect a solid margin on pulse crops to counter trade risk into the sub continent.

Northern hemisphere harvest continues to weigh heavily on prices. Russia with a new record wheat crop and a combination of a good corn harvest in the US and China continuing to auction of corn stocks will cap any attempt in corn values to move higher.
Feed barley may find some love from increased N.African imports. Durum quality in the US and Canada remains quiet good.