European feeds-Soymeal eases after rally, tracks futures
Ram Gopal Yadav (7 years ago)

Soymeal prices on Europe’s animal feed market edged lower, tracking soymeal futures in a further consolidation after a rally to multi-months highs earlier in the week. Brokers expected the market, mainly driven by weather elements, including dry weather in Argentina and in the US Midwest, to remain volatile in the coming weeks. Argentine high-protein soymeal for May delivery was offered at $493 a tonne cif Rotterdam, down $4, while Brazilian high-protein soymeal for May was offered at $504 a tonne cif Rotterdam, down $6.

India Mar mustard crushing seen doubling on month
Ram Gopal Yadav (7 years ago)

Rise in new arrivals.Mustard crushing across the country was estimated at 800,000 tn in March, more than double from last month’s 375,000 tn. In March, mills increased crushing operations after new crop arrivals increased. A crucial rabi oilseed crop, mustard is sown during Sep-Oct and is harvested from February. New crop arrivals begin in February, and gain momentum by March. The arrivals remain in full swing till May and start dwindling from June. In March, total arrivals of mustard seed were estimated at 1.1 mln tn. The supply in Rajasthan, the largest grower, were at 550,000 tn, Uttar Pradesh at 190,000 tn, Madhya Pradesh and Chhattisgarh together were at 80,000 tn

Soybean falls on NCDEX tracking CBOT contracts
Ram Gopal Yadav (7 years ago)

Futures contracts of soybean fell on the NCDEX, tracking weakness in bellwether contracts on the CBOT. Soybean contracts on CBOT were down this week as fears of a trade war between the US and China resurfaced, stoking concerns of an oversupply. China is the largest buyer of soybean from the US and has started to source some of its requirement from Brazil, the second largest producer of the oilseed after US. Sowing of soybean may be higher this season compared with a year ago owing to lucrative rates. Lower demand for Indian meal from overseas buyers is also seen weighing on soybean prices.