Soybean prices in Indore fell because of lower demand from crushers who produce soymeal. Lower meal demand is seen pushing prices of the oilseed lower. The most active April futures on the NCDEX, however, rose 2.4%.
NCDEX mustard down on higher arrivals, weak demand
Futures of mustard seed on the NCDEX fell due to higher daily arrivals amid tepid demand from oil millers. Weakness in other edible oils, particularly soyoil, and sluggish demand from oil millers is seen weighing on prices of mustard.
Surge in arrivals weigh on Jaipur mustard seed
Prices of mustard seed fell in Jaipur, Rajasthan, due to a surge in arrivals coupled with lacklustre demand from domestic millers and crushers. Improved harvesting activities in northern region also impacted market sentiments negatively.
Ukraine winter rapeseed conditions best over the past four years
Winter rapeseed had emerged on 98.6% of its planted area of 1009.8 Th ha. This includes 56.2% (559.8 Th ha) of plantings currently in good condition, 0.1% (1.0 Th ha) of winter rape had been lost. Ukrainian farmers have started spring field work. By March 02, winter rapeseed nutrition has been carried out on 184.3 Th ha or 18% of the planted area (1009.8 Th ha) compared to 186 Th ha last year.
Russia oilseed stocks in early Feb. down just 9.4% on the year
Russian growers held 2573 KMT of oilseeds as of February 1, 2018, i.e. 11 KMT (0.4%) less than on the same date last year (2573 KMT). The oilseed inventories decreased by 250 KMT in January. The farming entities held 1490 KMT of sunseed that is down 133 KMT (8.2%) from February 1, 2017 (1620 KMT). Its stocks fell by 130 KMT in January.
China 2017/18 soybean imports to rise above 100 mln tn
China’s 2017/18 soybean imports are expected to climb above 100 million tonnes. China bought 93.5 million tonnes of soybeans in 2016/17.
Chana prices rise in Delhi on millers’ demand.
Prices of chana rose in Delhi due to a rise in demand from dal millers. The most-active April futures of chana on the NCDEX was up 12 rupees.
Tur prices down in Kalaburagi over selling pressure
Tur prices fell in Kalaburagi due to selling pressure ahead of Gudi Padwa and Ugadi festivals. Farmers are also selling off their produce because the financial year is coming to an end.
Maharashtra begins online farmer registrations to buy chana at MSP
The Maharashtra government has started online registration of farmers for the purchase of chana at the minimum support price (MSP). Chana prices have been sluggish and hovering between Rs 3,300 per quintal and Rs 3,500 per quintal in the market, while the MSP has been fixed at Rs 4,250 per quintal with a bonus of Rs 150 per quintal taking the total price to Rs 4,400 per quintal. The government has set up around 185 procurement centres in the state. The Centre has decided to procure some 3 lakh tonne chana under the Price Stabilistation Scheme ( PSS) from the state and begun the online registration process for farmers from last week onwards. Chana procurement is expected to continue till May 29.
Coriander up in Kota on firm demand, low output view
Prices of coriander rose in Kota, Rajasthan because of higher domestic demand amid expectations of a decline in production in the current year. Demand for the well-dried spice is rising as the heat is helping the moisture subside.
Australia’s chickpea exports drop 22pc over January
Australia’s January chickpea exports at 62,781 tonnes dropped 22 per cent from the revised December total of 80,161 tonnes. The drop reflects the impact of the tariff imposed by India in December, which saw January sales to that market total 675 tonnes, down from 21,000 tonnes in December and 185672 tonnes in november.
Tur prices down in Kalaburagi on weak demand
Prices of tur fell in Kalaburagi, a key market, despite a decline in arrivals due to subdued demand from millers. Supplies are usually higher on the first day of the week and decline as the week progresses.
Delhi chana prices down on low demand from millers
Prices of chana fell in Delhi because of low demand from millers. Sentiment is likely to remain bearish because of expectation of record high production. The most-active April futures on NCDEX were down 1.6%.
NCDEX mustard down 1.7% as arrivals likely to spike
Futures contracts of mustard seed fell 1.7% on the NCDEX due to expectation of a spike in crop arrivals. The most active April futures contract was down 1.7% at 4,167 rupees per 100 kg. Output in Uttar Pradesh and Madhya Pradesh is expected to be higher than estimated.
Soybean down in Indore on low demand from crushers
Soybean prices in Indore were down because of lower demand for the oilseed from crushers for production of its derivatives, particularly soymeal. The most active April futures on the NCDEX were down 2.4%. Rajfed announced to purchase mustard, chana, wheat at support price.