China sold 494,714 MT of corn from 2013 and 2014 on 18 august.
China corn production is forecast to decrease from last year.
China corn production is forecast to decrease from last year.
CBOT corn falls as dry weather fears ease.
CBOT corn falls as dry weather fears ease.
India kharif maize sowing 7.67 mln ha (down 5.93%) ha vs 8.16 mln ha.
India kharif maize sowing 7.67 mln ha (down 5.93%) ha vs 8.16 mln ha.
Urad, its dal remains weak on low demand.
Barring a further fall in urad and its dal prices on muted demand, other pulses held steady at the wholesale pulses market. Easing demand from retailers against adequate stocks position on increased supplies from producing regions mainly kept pressure on urad and its dal prices.
Delhi chana up on low arrivals, demand from millers.
Prices of chana were higher in Delhi because of lower arrivals in the local market along with demand from the dal millers ahead of festivals. However, in Bikaner, prices were unchanged due to subdued demand, while arrivals were steady. The most active September futures on the NCDEX was marginally down 0.1%.
India Pulses rise 20% post import curbs.
The government import restriction on arhar, tur seems to have paid off with pulses prices rising by 20 per cent in the Mumbai wholesale markets. Traders, farmers and companies feel this is a positive trend ahead of the harvest of urad and moong pulses in Madhya Pradesh and Maharashtra, as prices have been ruling below the minimum support price fixed by the government. Weak and uneven rains in key pulses growing states were a concern for the trade which had led to the rise in prices. If the government allows export of pulses for the entire trade rather than only giving importers the benefit to export, prices can further increase. Further, if the government procures pulses which are soon going to be harvested at MSP rate, it supports the price. Also, the decision of the government to offload its 1.9 million tonnes of pulses buffer stock have an impact on the market.
Gujarat farmers advised to plant oilseeds post floods.
IMD Agrimet division has advised farmers in Gujarat to plant sunflower and sesame if the first crop failed due to the recent flood or water logging. Groundnut, soybean, castor, and guar are among the major crops grown in the state. Gujarat has received 26% above-normal rains in the southwest monsoon season so far.
Groundnut oil strengthens on rising demand.
Groundnut oil strengthened at the Vashi oils and oilseeds wholesale market here on consistent demand from stockists and retailers. Refined palmolein also surged following sustained demand from retailers. Castorseeds bold and castor oil commercial also firmed up due to persistent demand from shippers and soap industries.
Mustard, cottonseed rise on uptick in demand.
Prices of mustard and cottonseed oils rose by Rs 50 per quintal at the wholesale oils and oilseeds market today due to pick up in demand from Vanaspati millers. Castor oil, in the non-edible section, also strengthened on increased offtake by consuming industries. Rising demand from Vanaspati millers and retailers against restricted supplies from producing belts, mainly led to the rise in mustard and cottonseed oil prices.
CBOT soybean up on less rains in US, jump in export.
Soybean futures contracts on the CBOT were up due to less-than-expected rainfall in some parts of Illinois and Iowa, the largest soybean producing states of the US Midwest region. Contracts gained also due to stronger-than-expected weekly US soybean exports data. The quantum of soybean crushed in the US in July was higher on month, which supported the prices of the oilseed on the CBOT. The most-active November CBOT soybean contract was up 0.2% from the previous close.
NCDEX soybean up on crop concerns in Madhya Pradesh.
Futures contracts of soybean on the NCDEX were up due to concerns over a drop in output after below-normal rainfall in parts of Madhya Pradesh. The most active October contract on NCDEX was up 0.2% from the previous close. Madhya Pradesh, the country largest soybean producer, has so far received 492.4 mm rainfall, 22% below normal. There are also concerns of crop damage due to insect attacks in some parts of the state. Prices also rose taking cues from the benchmark contracts on the CBOT, which were up due to stronger-than-expected weekly data on US soybean exports.
Jaipur mustard seed at 4-mo high on seasonal demand.
Seasonal demand for mustard oil has lifted seed prices to a four-month high in Jaipur, the benchmark market for the oilseed. Demand for mustard oil increases during rainy season, thereby improving demand for the seed. A fall in arrivals coupled with improved demand from domestic oil millers and crushers also supported prices.
Sri Lanka ups sugar import tax on low global prices.
Sri Lanka raised import tax on sugar by 8 Sri Lankan rupees (3.3 Indian rupees) per kg on Tuesday as prices of the sweetener declined in global markets. Prices of sugar in international markets are currently low due to a rise in output in Brazil, among the world’s largest producers and exporters of the commodity. Mills in Brazil Centre-South region produced 3.41 million tonne sugar in the second fortnight of July, up 9.5% from 3.12 million tonne in the year-ago period, the country sugarcane industry association.
India Sugar poor demand drags down sugar prices in north India.
Prices of sugar fell in the key wholesale markets of north India due to sluggish demand from bulk buyers. Mills are quoting lower prices to trigger demand as crushing is expected to start earlier than usual in 2017-18 (Oct-Sep) and so they want to clear their stocks and book profits. Prices of the sweetener remained steady in the key wholesale markets of Maharashtra today amid thin trade.