EU wheat dips on strong euro and fall in US market.
Pakistan blocking normal access between India and Afghanistan.
Pakistan blocking normal access between India and Afghanistan.
NCDEX coriander up on bargain buying; spot unchanged.
Futures contracts of coriander traded higher on the NCDEX as traders bought more at low prices after the contracts fell nearly 4% in the past eight trading sessions. The most-active December contract was up 0.3% from the previous close. In earlier sessions, prices fell due to weak domestic and export demand. Prices of the spice were largely unchanged in spot markets on the back of weak demand and a fall in supply.
Ukraine Winter rape crops mostly in good condition.
In Ukraine, the beginning of November featured mostly warm weather with rain. Over the ten days, air temperatures peaked at +9-14°С, even at 17°С in Kherson region. Winter rape of optimum and late planting dates is at the stage of rosettes. Early- and ultra-early-sown winter rape hybrids of the intensive type are flowering. The general crop condition is mostly good. Precipitation in October and early November considerably increased moisture content in the topsoil and improved the condition of winter crops.
Gujarat farmers dispose Groundnut below MSP.
As the government delays procurement of Groundnut, farmers are selling Groundnut at an estimated average of Rs 3,500 per quintal in Saurashtra region of Gujarat at prices which are much below the minimum support price (MSP). About a month before poll dates were announced for Gujarat, the state government had announced it would procure Groundnut at Rs 4,500 per quintal and Rs 50 as bonus over and above the central minimum support price. Small and marginal farmers who need money immediately are preferring the open market because there are long waiting lists for sale to government, and the government also takes a couple of weeks for making payment.
CBOT soybean up on bargain buying post 6-week low
Futures contracts of soybean on the CBOT rose in the electronic trade due to bargain buying after the contract hit its six-week low. The most-active January contract of soybean on the CBOT was at $9.6825 per bushel, up 0.1% from the previous close.
Malaysia CPO ends lower on weak export data
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower due to a month-on-month decline in the country’s palm oil exports during Nov 1-15. Cargo surveyor Intertek Agri Services today estimated Malaysia’s palm oil exports during Nov 1-15 at 660,465 metric tonne, down 4.3% on month. The most-active January contract of crude palm oil on the Malaysian bourse closed at 2,712 ringgits (42,377.25 rupees) per metric tonne, down 0.2% from the previous close.
NCDEX soybean falls 1% on high arrivals in spot
Futures contracts of soybean on the NCDEX fell nearly 1% mainly because of high arrivals in major spot markets. The most active November contract of soybean on the NCDEX was down 0.6% from the previous close. However, expectations of a hike in import duty on edible oils restricted further losses.