Delhi chana up on rise in demand ahead of festivals
Ram Gopal Yadav (8 years ago)

Chana up due to demand from dal millers ahead of festivals, amid limited supplies. Though the arrivals are unchanged in Delhi, they are inadequate to meet the current demand. Arrivals of chana in Delhi were pegged at 525 tonne, unchanged from Saturday, while in Bikaner, it was 700 bags (1 bag =100 kg) up from 500 bags.

NCDEX to add Akola, Jaipur, Ashok Nagar as chana delivery centres
Ram Gopal Yadav (8 years ago)

The NCDEX Ltd add Akola, Jaipur and Ashok Nagar as additional delivery centres for chana futures expiring from December. New additional delivery centres were major producing and processing centres and would assist market participants at these locations to trade efficiently on the exchange. Exchange has also advised to take note of increase in position limit as notified on Aug 14 as per the SEBI.

US Soybean Conditions Improve Slightly.
Ram Gopal Yadav (8 years ago)

Recent rainfall in South Dakota is giving crops a major boost this week. The Crop Progress report issued by USDA-NASS shows soybean crops in the state had eight-point gains. Crop is now rated 42% good to excellent. But, gains discovered in South Dakota were lost in Illinois. Illinois soybean crop also declined. This week, 60% is good to excellent, down three points. Overall, the national soybean rating gained a point to 60% good-excellent.

Groundnut, mustard oils up on retailer demand.
Ram Gopal Yadav (8 years ago)

Prices of groundnut and mustard oils rose by up to Rs 100 per quintal at the wholesale oils and oilseeds market today largely on pick-up in demand from retailers. Castor oil, in the non-edible section, also traded higher on increased offtake by consuming industries. Besides uptick in demand from retailers, fall in arrivals from producing belts mainly led to the rise in groundnut and mustard oil prices.

Mustard seed prices up in Jaipur on lower arrivals
Ram Gopal Yadav (8 years ago)

Prices of mustard seed rose in the benchmark market of Jaipur because of a fall in arrivals, as well good demand for the seed by millers. Arrivals across the country were at 120,000 bags (1 bag = 85 kg), down from 140,000 bags. Demand for the commodity from consumers was good.

NCDEX soybean gains on lower acreage
Ram Gopal Yadav (8 years ago)

Futures contracts in the edible oil basket traded higher on domestic exchanges. Soybean futures on NCDEX ended up, bolstered by a decline in acreage under the crop in the country. Soybean fell on the US exchange due to forecast of beneficial rains in the US. Dry weather conditions earlier posed threat to the standing soybean crop in the country, and rains may boost yield. Soyoil prices rose due to the ongoing strike at ports in Argentina.

Sugar Down in Maharashtra on subdued demand from bulk buyers
Ram Gopal Yadav (8 years ago)

Prices of sugar fell in the key wholesale markets of Maharashtra 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). Sugar mills in Maharashtra have, however, sought compensation of 500 rupees per tonne from the central government for the likely losses they would incur due to lower sugar recovery rate because of early crushing of sugarcane. However, Food Minister Ram Vilas Paswan on Aug 12 said that the government has no plans to allow further imports of sugar yet.

Global body ups 2017-18 sugar surplus estimate to 4.6 million tonne vs 3 million
Ram Gopal Yadav (8 years ago)

International Sugar Organization has raised its estimate for global sugar surplus in 2017-18 (Oct-Sep) sharply to 4.6 million tonne from 3 million tonne projected in June. The world sugar balance is forecast to show a surplus after two seasons of deficit” as the projected global output of sugar is higher than the consumption. Global sugar body has estimated the world sugar output in 2017-18 at 179.30 million tonne, up nearly 7% on year, led by likely higher production in India, European Union, Thailand and China. Globally, sugar available for export is expected to rise by 1.91 million tonne to 62.15 million tonne led by rising production in exporting countries, while the import demand for the sweetener in 2017-18 is seen at 57.62 million tonne.

Sugar slump pressures Brazilian mills.
Ram Gopal Yadav (8 years ago)

Decline in sugar and oil prices over the past six months has diminished the hope of financial recovery for a number of Brazilian mills, and could put new deal making in the sector on hold, according to industry experts. Raw sugar prices in New York were hovering around 13 cents per pound, down around 40 per cent since the fourth quarter of 2016, to a level analysts and millers say is close to production costs in Brazil centre-south. The price pressure on sugar and ethanol could cut short a nascent financial recovery for many Brazilian mills during a global sugar supply deficit in 2015 and 2016. It could also slow down talks between millers and potential investors and lead to more closures of indebted firms.