Brazilian Soy planting pace update by 01 Dec 2017; 90.5% ( 91.4% of last season ) as per SAFRAS & Mercado. In Mato Grosso, 99% vs 100%. Under normal conditions from now on,tentatively forecast a Soy new-crop size around 110 Million T vs record 114 of 16/17.
Argentinian Sunflower new-crop planting pace
Argentinian Sunflower new-crop planting pace was 95% of 1.75 Million Ha vs 1.7 of 16/17 season. Under normal weather conditons,tentatively forecast a new-crop size of 3.65 Million T vs 3.45 of 16/17.
US Soybean November exports for Brazil 2.143 MMT
Soybean exports during November for Brazil totaled 2.143 MMT, which was 13.85% lower than last month but more than 6.5 times larger than Nov 2016. This extra supply in the world market has been the main reason US shipments lag year ago.
EU almost doubled rapeseed imports from Ukraine
Ukraine exported 343.9 KMT of rapeseed in October 2017/18, or half as much as in the previous month. As a reminder, Ukrainian rapeseed exports reached a record 700.5 KMT in September 2017. Roughly 1680 KMT was shipped abroad in July-October 2017/18, during the most productive months for the rapeseed market. This volume is much larger than in the last three seasons, but down 5.8% from the record set in the same month in MY 2013/14 (1783.4 KMT). Rapeseed supplies to the EU continue gaining pace in the current season (1366.7 KMT against 747.5 KMT a year ago).
Ukraine Rapeseed becoming the most profitable crop for growers
Among oilseeds, only rapeseed production margin continues moving upwards. According to the forecast of the Institute scientists, its margin of profit increase to 58.8% against 44.9% in 2016 and 44.3% in 2015. The downward trend in sunseed production profitability persist: 30.8% in 2017 against 80.5% in 2015 and 63% in 2016. So, its percentage more than halved from last year. Soybean production margin may fall to 25.4% that is half as high as in 2016.
Ukraine Sunoil exports under Indian import duty
The market was surprised by such a significant increase, which affected all vegoils. So, November’s decision of the Indian government brought duty rates up to a decade high. Predicting further developments is important for Ukraine, as India is its key importer absorbing up to one-third of total sunoil exports.
Malaysia CPO ends lower on strong ringgit vs doller
Futures contracts of crude palm oil ended lower on the Bursa Malaysia Derivatives due to strength in ringgit against the dollar. The most-active February contract of crude palm oil on the Malaysian bourse closed at 2,583 ringgits (40,947.99 rupees) per tn, down 0.8% from the previous close.
India Indore soybean rises on improved demand
Prices of soybean rose in Indore, Madhya Pradesh’s benchmark market, due to improved demand from oil millers after government hiked import duty on refined soyoil. However, high arrivals of soybean in spot markets prevented any further rise in prices. Along with soybean, prices of mustard seed also rose in the benchmark market of Jaipur. Prices rose due to a rise in demand from domestic crushers and stockists along with a fall in acreage of the crop.
Mustard seed up in Jaipur on demand from oil mills
Mustard seed prices rose in Jaipur, the benchmark market in Rajasthan, due to improved demand for oil millers and crushers amid a fall in arrivals. Seasonal demand for mustard oil supported prices of the seed.
Indore soybean up on talk of meal export incentive
Soybean prices in Indore were up because of talk of export incentives on soymeal. Export incentives are likely to increase demand for the oilseed due to improved crushing. Gains in soybean contracts on the CBOT are also seen supporting the rise in prices of the oilseed. The most active January futures contract of soybean on the NCDEX traded up 1.9% from the previous close.