Wheat farmers struggle for improved seeds as planting begins.
Australian wheat sales to Egypt, Sudan and Tanzania lose out to Black Sea exporters.
Australian wheat sales to Egypt, Sudan and Tanzania lose out to Black Sea exporters.
NCDEX soybean rising towards MSP; oilmeal export sops may be doubled
Futures contracts of soybean on the National Commodity & Derivatives Exchange are rising towards the minimum support price following reports that the government may double the incentive on export of oilmeals. The government is likely to double the incentive on export of oilmeals to 10% to support domestic oilseed prices.
Mustard up in Jaipur on improved domestic demand
Mustard seed prices were up in Jaipur, Rajasthan owing to improved demand from domestic stockists and oil millers coupled with a fall in arrivals.
Malaysia CPO closes lower on firm ringgit vs dollar
Futures contracts of crude palm oil ended over 1% lower on the Bursa Malaysia Derivatives on the back of a strong ringgit against the dollar. Firmness in the Malaysian currency makes palm oil more expensive for buyers holding other currencies. The most-active February contract of crude palm oil on the Malaysian bourse ended at 2,608 ringgits (41,064.22 rupees) per metric tonne, down 1.4% from the previous close.
Russia rapeseed oil production gained 9% in the first months of 2017/18
37.9 KMT of rape oil was produced in Russia in September 2017 against 20.7 KMT in August 2017 and 33.5 KMT in September 2016. Consequently, overall rape oil production in July-September 2017/18 was up 9.1% year-on-year at 85.7 KMT against 78.5 KMT a year ago.
Ukraine Viktor & К launched a soybean processing plant
The plant’s design capacity is 600 MT of soybeans a day. It is projected to produce hydrated soybean oil, deodorized soybean oil (both bulk and PET-bottled), soybean meal (both granulated and non-granulated), and granulated soybean husks.
Ukraine Soybean average yield 16% lower than last year
Oilseed harvesting is almost complete in Ukraine. As of November 21, sunseed was gathered from 5890.4 Th ha or 99% of its intended area (5955.8 Th ha). Farmers obtained 11822 KMT of sunseed with average yield 2.01 MT/ha which is 11.5% lower than last year. Farmers gathered 3641.1 KMT of soybeans from 1899 Th ha out of intended 1990.1 Th ha. The average yield was 1.92 MT/ha, as of November 21 (-16% compared to last year). Winter rapeseed had been sown at 861.6 Th ha that is 12% more than planned (769.2 Th ha). Last year winter rapeseed area was 844 th ha.