Wheat down in Delhi on weak demand, unchanged in Indore.
Ukraine Mustard market continued recovering this year
Mustard production by large and medium-sized plants of the fat-and-oil industry grew to 828 MT in October 2017, or 14% more than in the previous month (725 MT) and up 32.5% from October 2016 (625 MT). Production amounted to 6.7 KMT in January-October, or up 15% year-on-year (5.8 KMT in January-October 2016).
Russia Oilseed stocks down 12.7% year-on-year in early November
Russian growers held 4007.4 KMT of oilseeds, or 584.9 KMT (12.7%) less than at the same time last year (4592.3 KMT). The oilseed inventories gained 1058.8 KMT in October. Farmer sunseed stocks totaled 2240.6 KMT, or 548.5 KMT (19.7%) less than at the same time last (2789.1 KMT). They increased by 657.6 KMT in October.
Brazil’s farmers invest in soybeans, not corn crops
Brazilian producers have already planted 92% of the estimated area for soybeans in the 2017/2018 harvest. The number surpasses 90% of last year and 87% of the average of five years.
MCX CPO hits 2-week low tracking Bursa Malaysia
Contracts of crude palm oil hit a two-week low on MCX tracking losses on the benchmark Bursa Malaysia Derivatives. The most active December contract of crude palm oil on MCX was down 0.7% from previous close.
MY 2017/18 India Soybean Production Unchanged at 10 MMT
USDA pegs India year to Sept soybean crop at 10 million metric tonne, down 5% YoY. India soybean over 10.6 million ha for 2017-18, lower than 11.4 million ha last year. Average market prices soybeans last 12 months have softened 16 % to INR 27,000/metric tonne.
Soybeans up for third session on Argentina dryness
Chicago soybean futures rose for a third straight session with dry weather in Argentina and strong U.S. demand buoying the market. Rainfall over the weekend was limited in Argentina, the top global soymeal and soyoil exporter, and showers were expected to be limited this week.
India November mustard seed crushing up around 6% on month at 475,000 tonne
Mustard oil mills across the country crushed 475,000 metric tonne of the oilseed in November, up nearly 6% on month. Crushing rose in November due to higher arrivals in wholesale markets. Farmers liquidated stocks to raise money for rabi sowing. Since the beginning of the crushing season in February, oil mills have crushed about 5.3 million metric tonne of mustard seed compared with the total supply of 5.4 million metric tonne.
Indore soybean down tracking palm oil, CBOT soybean
Soybean prices in Indore were down due to weakness in the soybean contracts on the CBOT and global palm oil prices. Palm oil prices globally were down because of expectations of a higher output in Malaysia in November. The most active January futures contract of soybean on the NCDEX ended down 0.4% from the previous close.