Prices of coriander were up in Kota–the benchmark market–because of a likely drop in acreage in the producing regions, this rabi season.The fall in area is due to unattractive prices for the crop last season.
USDA sees record-high U.S. soy acres in 2018-19
U.S. farmers are likely to plant a record amount of land with soybeans in 2018 and also boost the area devoted to most other major crops.
Soybean market eyes argentina’s weather
The market attention has been slowly shifting to South America, where a growing crop is just emerging, and planting is finishing up. Weather forecasts in South America are a bit wetter, especially in Argentina for the next 14 days. Now precip is forecast above normal in Argentina the next 7 days, with the 8-14 day forecast for more precip as well (closer to average rather than below average). That is slightly negative and is pressuring soybeans. Temps still forecast mostly normal across both Argentina and Brazil for the next 14 days, which keeps the forecast relatively non-threatening.
Argentina authorizes new herbicide-resistant GMO soybean seeds
Argentina authorized the use of genetically modified soybean seeds resistant to herbicides other than glyphosate, as the European Union (EU) debates whether to extend the license of weed-killers containing the ingredient. Argentina shipped 7.5 million tonnes of soybean meal to European countries in the first nine months of 2017. The country’s producers are expected to plant 16.8 million hectares of soybeans for the 2017-18 crop.
Romania vital sunseed exporter to EU countries
Romanian farmers are getting more and more interested in oilseed crops, devoting less acreage to grain crops. Thus, in 2017/18 MY grain crop area (wheat, corn, barley) was 6% lower than 5-year average. In contrast, sowing area of oilseeds (rapeseed, sunseed, soybeans) is estimated at a new record, which is 31% higher than 5-year average. In 2017/18 major part in oilseed sowing area structure was traditionally given to sunseed. Still, 2017/18 season was marked with essential growth in area of other oilseed crops, soybeans area increased by 40% and rapeseed by 25%. In terms of exports, Romania is responsible for 42% in the total sunseed supplies to EU market (in 2016/17), which makes the country quite important market player in the bloc.
UK rapeseed sowings pull out of five-year decline
Rapeseed plantings are on the rise in the UK. Estimated at 9% to 616,000 hectares the increase in rapeseed plantings ahead of the 2018 harvest.
Malaysia CPO ends down tracking CBOT soyoil
Futures contracts of crude palm oil ended lower on the Bursa Malaysia Derivatives, taking cues from soyoil contracts on the CBOT. The February contract closed at 2,563 ringgits per metric tonne, down 0.9% from the previous close.
MCX CPO down on weak demand at high price levels
Futures contracts of crude palm oil were down on the MCX as demand from market participants remained subdued at prevailing high prices. Prices of crude palm oil have risen around 6% since Nov 15 on the MCX, after the government raised base import price and import duty on the commodity. The most-active December contract was trading down 0.53% at 583.3 rupees per 10 kg on the MCX.
NCDEX soybean down on CBOT cues, ample supply
Futures contracts of soybean extended losses on NCDEX tracking a fall in the soybean and soyoil contracts on the CBOT. The most active December contract of soybean on NCDEX traded down 0.5% from the previous close. Soy contracts on CBOT fell due to easing of concerns over dry weather in major producer Argentina.