After drought, monster storm threatens Australia’s wheat crop.
NCDEX coriander down on profit booking; spot steady
Futures contracts of coriander on the NCDEX ended down because investors booked profits after prices hit a six-month high. The most-active December contract of coriander closed down 0.24% from the previous close.
Kazakhstan-China first rape oil plant launched with 1 KMT/day capacity
At the moment, the plant’s design capacity is 1 KMT a day and 300 KMT a year. This is raw material processing. The plant has processed 5 KMT of feedstock since its launch. In addition, 400 MT of sunoil and 1.6 KMT of rape oil were produced in July 2017. Also, it is projected to purchase 100-150 KMT of rapeseed and sunseed from farmers in North-Kazakhstan region. Roughly USD 15 Ml or KZT 5 Bl was invested in the construction at the first stage and oilseed plantings in the region were expanded by 280 Th ha. Also, the plant has already exported 2 KMT of rape oil to China.
Ukroliya Organic to take up production of organic vegoils in Ukraine
Ukraine’s first organic vegoil plant Ukroliya Organic is being put into operation in Poltava region. The plant is projected to annually process 18 KMT of sunseed, 50 KMT of soybeans.
Malaysia CPO ends up on bargain buys post 4-month low
The most-active February contract of crude palm oil ended over 1% higher on the Bursa Malaysia Derivatives due to bargain buying after it hit a four-month low. The contract closed at 2,604 ringgits per tn, up 1.6% from the previous close.
CBOT soyoil up tracking gains in CPO contracts
Futures contracts of soyoil on the CBOT was up tracking gains in the crude palm oil contracts on the Bursa Malaysia Derivatives. The prices of soyoil and crude palm oil generally move in tandem becausen both are used in preparation of vegetable oil and bio-fuel. The most active January contract of soyoil on CBOT traded at 34.44 cents per pound, up 1.1% from the previous close.
Soybean down in Indore as high prices dent demand
Soybean prices fell today in Indore, the benchmark market, as high prices of the oilseed led to subdued demand. The most active January futures contract of soybean on the NCDEX traded up 0.8%.
NCDEX mustard up on low acreage, spot cues
Futures contracts of mustard seed were up on the NCDEX due to a fall in the acreage of the oilseed. Improved demand from domestic oil millers and crushers lifted prices at Jaipur in Rajasthan, thereby, supporting contracts on the NCDEX. On the NCDEX, the most active December contract was up 0.8%.
Mustard seed up in Jaipur on seasonal demand for oil
Mustard seed prices were up in Jaipur due to improved demand for mustard oil in the ongoing winter season. A fall in acreage of the oilseed further supported prices of mustard seed.