Quarantine pests have been revealed 20 times over the last one and a half months and 127 times since the beginning of 2017 against 91 times in 2016. So, the situation is much worse this year. If Brazil takes no measures, Ros Selkhoz Nadzor impose a provisional ban on Brazilian soybean imports.
Cbot Soybean prices near lowest since early Oct, S. American weather weighs
Soybeans pressured by rains in Argentina, record Brazilian crop. Chicago soybean futures edged lower, with the market trading near its lowest in almost 11 weeks as forecasts of rain in Argentina’s drought-hit oilseed growing areas weighed on prices. Rains that fell on Argentina’s main farm belt over the weekend brought relief to parched soybean. The Chicago Board of Trade most-active soybean contract slid 0.1 percent to $9.61 a bushel.
Malaysia CPO ends lower on firm ringgit vs dollar
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower due to a strong ringgit against the dollar. The most-active March contract of crude palm oil on the Malaysian bourse closed at 2,518 ringgits (39,541.18 rupees) per metric tonne, down 0.4% from the previous close.
NAFED procures 70,004 metric tonne soybean, 570,076 metric tonne groundnut
The National Agricultural Cooperative Marketing Federation of India has procured 70,004 metric tonne of kharif soybean and 570,076 metric tonne of groundnut-in-shell in key growing states of the country. The procurement of soybean is underway in Maharashtra, Rajasthan and Telangana, while procurement of groundnut is being carried out by Gujarat, Rajasthan and Andhra Pradesh. Gujarat is the top producer of the kharif groundnut. Maharashtra and Rajasthan are the second and third largest producers of soybean in the country.