Indore soybean down tracking palm oil, CBOT soybean

Soybean prices in Indore were down due to weakness in the soybean contracts on the CBOT and global palm oil prices. Palm oil prices globally were down because of expectations of a higher output in Malaysia in November. The most active January futures contract of soybean on the NCDEX ended down 0.4% from the previous close.

Soybeans up for third session on Argentina dryness

Chicago soybean futures rose for a third straight session with dry weather in Argentina and strong U.S. demand buoying the market. Rainfall over the weekend was limited in Argentina, the top global soymeal and soyoil exporter, and showers were expected to be limited this week.

MY 2017/18 India Soybean Production Unchanged at 10 MMT

USDA pegs India year to Sept soybean crop at 10 million metric tonne, down 5% YoY. India soybean over 10.6 million ha for 2017-18, lower than 11.4 million ha last year. Average market prices soybeans last 12 months have softened 16 % to INR 27,000/metric tonne.

India Indore soybean rises on improved demand

Prices of soybean rose in Indore, Madhya Pradesh’s benchmark market, due to improved demand from oil millers after government hiked import duty on refined soyoil. However, high arrivals of soybean in spot markets prevented any further rise in prices. Along with soybean, prices of mustard seed also rose in the benchmark market of Jaipur. Prices rose due to a rise in demand from domestic crushers and stockists along with a fall in acreage of the crop.

US Soybean November exports for Brazil 2.143 MMT

Soybean exports during November for Brazil totaled 2.143 MMT, which was 13.85% lower than last month but more than 6.5 times larger than Nov 2016. This extra supply in the world market has been the main reason US shipments lag year ago.

Brazilian Soy planting pace update by 01 Dec 2017

Brazilian Soy planting pace update by 01 Dec 2017; 90.5% ( 91.4% of last season ) as per SAFRAS & Mercado. In Mato Grosso, 99% vs 100%. Under normal conditions from now on,tentatively forecast a Soy new-crop size around 110 Million T vs record 114 of 16/17.

Indore soybean up on talk of meal export incentive

Soybean prices in Indore were up because of talk of export incentives on soymeal. Export incentives are likely to increase demand for the oilseed due to improved crushing. Gains in soybean contracts on the CBOT are also seen supporting the rise in prices of the oilseed. The most active January futures contract of soybean on the NCDEX traded up 1.9% from the previous close.

India NCDEX soybean up on bargain buys; spot soy down

Prices of soybean fell at the benchmark Indore market in Madhya Pradesh due to low buying at high prices. High supply in markets weighed on soybean prices. Improved demand from domestic oil millers and crushers lifted prices at Jaipur in Rajasthan, thereby, supporting contracts on the NCDEX. Prices rose on the Malaysian bourse due to bargain buying.

CBOT soyoil up tracking gains in CPO contracts

Futures contracts of soyoil on the CBOT was up tracking gains in the crude palm oil contracts on the Bursa Malaysia Derivatives. The prices of soyoil and crude palm oil generally move in tandem becausen both are used in preparation of vegetable oil and bio-fuel. The most active January contract of soyoil on CBOT traded at 34.44 cents per pound, up 1.1% from the previous close.

NCDEX soybean down on CBOT cues, ample supply

Futures contracts of soybean extended losses on NCDEX tracking a fall in the soybean and soyoil contracts on the CBOT. The most active December contract of soybean on NCDEX traded down 0.5% from the previous close. Soy contracts on CBOT fell due to easing of concerns over dry weather in major producer Argentina.

Argentina authorizes new herbicide-resistant GMO soybean seeds

Argentina authorized the use of genetically modified soybean seeds resistant to herbicides other than glyphosate, as the European Union (EU) debates whether to extend the license of weed-killers containing the ingredient. Argentina shipped 7.5 million tonnes of soybean meal to European countries in the first nine months of 2017. The country’s producers are expected to plant 16.8 million hectares of soybeans for the 2017-18 crop.

Soybean market eyes argentina’s weather

The market attention has been slowly shifting to South America, where a growing crop is just emerging, and planting is finishing up. Weather forecasts in South America are a bit wetter, especially in Argentina for the next 14 days. Now precip is forecast above normal in Argentina the next 7 days, with the 8-14 day forecast for more precip as well (closer to average rather than below average). That is slightly negative and is pressuring soybeans. Temps still forecast mostly normal across both Argentina and Brazil for the next 14 days, which keeps the forecast relatively non-threatening.

NCDEX soybean futures end down on profit booking

Futures contracts of soybean gave up early gains to close lower on the NCDEX owing to profit booking. The most-active December contract ended down 0.5% from the previous close. Prices rose earlier on talks of an increase in incentive on export of oilmeals to 10% from 5%.

CBOT soybean down as US weekly export sales decline

Futures contracts of soybean on CBOT traded lower due to lower-than-expected US export sales data. US exported 869,086 metric tonne soybean during the week ended Nov 16, down 23% on week. Favourable weather in major growing regions of Argentina further weighed on the prices. The most active January contract traded at $9.9250 per bushel, down 0.4% from the previous close.

China’s Appetite for Soybeans Continues to Grow

New data on Chinese export demand for soybeans released shows no slowing down in demand for U.S. soy protein. Figures released show China continues to be a good customer of the American soybean farmer. To date imported close to 79 million metric tons of soybeans. That is up from the same period last year when they imported 66.7.