Ukrainian corn producers eye price recovery in November.
USDA said private exporters sold 195,000 MT of U.S. corn to unknown destinations for delivery in the 2017/18 marketing year that began Sept. 1.
USDA said private exporters sold 195,000 MT of U.S. corn to unknown destinations for delivery in the 2017/18 marketing year that began Sept. 1.
CBOT corn edges higher on technical buying.
CBOT corn edges higher on technical buying.
Maharashtra to start maize procurement from Nov 1 and will last through Dec 31, 2018.
Maharashtra to start maize procurement from Nov 1 and will last through Dec 31, 2018.
Nizamabad maize price marginally up on govt buys.
Nizamabad maize price marginally up on govt buys.
NAFED to procure 70,000 tonne kharif urad, moong in Maharashtra.
The National Agricultural Cooperative Marketing Federation of India would procure around 70,000 tonne of pulses, comprising mostly urad and moong, grown in 2017-18 (Jul-Jun) kharif season in Maharashtra. The procurement is being undertaken to boost prices of moong and urad, which have slipped below minimum support prices in key markets in the state. The minimum support price for moong is 5,575 rupees per 100 kg, while that of urad is 5,400 rupees.
FCI to auction 1,307 tonne moong via NCDEX e-Markets.
Food Corp of India offer 1,307.1 tonne of moong and 770.4 tonne of urad for auction through NCDEX e-Markets. The pulses to be auctioned are stocked at godowns in Maharashtra, Andhra Pradesh, Gujarat and Madhya Pradesh. FCI is selling pulses through NCDEX e-markets to dispose of its huge stock built through procurement from farmers and high imports in 2016-17. (Apr-Mar).
Madhya Pradesh farmers told to start chana sowing.
IMD Agrimet has recommended farmers in Madhya Pradesh to prepare land for sowing of chana. Farmers should sow JG 130, JG218, JG 11, JG 16 and JG 6, wilt-resistant and early varieties of chana, in unirrigated condition. Early sowing would be good for the crop as the seed may utilise available soil moisture in the field. Soil moisture is less this year because of low rains in the state. The south-west monsoon rains were inadequate in the state and may hit the rabi crop sowing.
Ukraine rapeseed planting progress is 11% ahead of last year.
Planting of winter cereals continues in Ukraine. Planted on 4.626 Million ha by October 04 (64% out of the projected 7.238 million ha). Winter wheat and triticale were planted on 4.257 million ha (69%) against 3.648 million ha in 2016. At the same time, winter barley was sown on .251 million ha (27%) and winter rye on .118 million ha (73%).
Malaysia CPO up tracking soy oil; output data eyed.
The futures contracts of crude palm oil on Bursa Malaysia Derivatives rose tracking gains in CBOT soy oil futures. The most-active December crude palm oil contract on the Malaysian bourse was at 2,740 ringgits (42,326 rupees) per tonne, up 10 ringgits from the previous close. Crude palm oil is used as a substitute for soy oil, and typically their prices move in tandem. A stronger Malaysian ringgit against dollar, however, checked major gains in crude palm oil futures, as it makes exports of palm oil unattractive for domestic sellers. The investors are waiting for data on crude palm oil production, inventories and exports in September, that is expected to be released this week by the Malaysian Palm Oil Board.
India September mustard seed crushing down 6% on month at 425,000 tonne.
Oil mills across the country crushed 425,000 tonne of mustard seed in September, down around 6% from previous month. Crushing of mustard seed in September fell month-on-month because of shrinking arrivals in wholesale markets. Subdued purchases from oil millers and mustard meal exporters also led to lower crushing. Oil mills have crushed about 4.3 million tonne of mustard seed since the start of the crushing season in February compared to total arrivals of 4.6 million tonne during the period.
NAFED to auction 12,799 tonne mustard via NCDEX e-Markets.
The National Agricultural Cooperative Marketing Federation of India has offered 12,798.68 tonne of mustard seed for auction through NCDEX e-Markets. The oilseed was procured under the price support scheme to support farmers. The pulse is stocked at godowns of Central and State Warehousing Corp in Hissar, Rewari, Mohindergarh, and Narnaul in Haryana.
Soybean prices fall in Indore due to weak demand.
Prices of soybean fell in the key wholesale market of Indore due to poor demand. Demand from oil millers is low due to poor quality of most arrivals. On the NCDEX, the most active November soybean contract was down 0.1% from the previous close.
Surplus sugar output likely for two years.
India is likely to witness surplus sugar production during the next two years on account of a bumper sugarcane crop. According to OP Dhanuka, CMD, Riga Sugar Company Ltd, production of sugar in 2017-18 marketing year (October-September) is likely to be close to 25.5 million tonnes (mt), a growth of 25 per cent over last year on higher sugarcane area. The country’s annual consumption is pegged at 24 mt. It is estimated that the area under sugarcane cultivation is higher at 49.88-lakh hectares this year compared to 45.64-lakh hectares in 2016-17.
ISMA says Oct sugar output seen down as Maharashtra defers crushing.
Sugar output in the country in October is seen at around 300,000-350,000 tonne, lower than 800,000 tonne pegged earlier, as mills in Maharashtra have deferred cane crushing operations to Nov 1.
India Sugar up in most spot markets as demand rises ahead of Diwali.
Prices of sugar rose in most key wholesale markets of the country due to higher demand ahead of the festival of Diwali. Sugar prices rose in Mumbai as well, as transportation charges have increased due to lack of vehicles. Traders are bullish on sugar prices in the near term due to expectations of further rise in demand from bulk buyers such as sweets makers ahead of Diwali, which celebrated on Oct 19 this year.
India sugar industry overestimated October output.
India sugar output in October is likely to achieve only 40 per cent of the earlier assured quantity. Most mills in UP are now looking to start the crushing season by the last week of October, anticipating a labour shortage ahead of Diwali. With bumper cane availability, the UP government estimates a 10 per cent rise in output this season at 10 million tonnes (mt), a fourth of India’s overall sugar production estimate of 25.1 mt for October 2017-September 2018. Sugar mills in Maharashtra are planning to start the new season from November 1. The delay was aimed to avoid problems in harvesting of cane due to heavy rainfall in September which left fields muddy. Also, actual maturing of cane takes place in October and November.
Tur down in Akola as govt may sell stock at low rate.
Tur prices fell in Akola due to concerns over start of sale by the government at lower rates amid expectations of higher yield of the pulse this season.
Chana prices down in Delhi, Bikaner on low demand.
Prices of chana were down in Delhi on subdued demand despite ongoing festive season. Expectations of higher sowing this season amid lower demand is seen creating bearish sentiments. Tracking the trend in the spot market, chana futures on the NCDEX hit the 3% lower circuit.