Repeated rains that fall on Argentina’s main agricultural region weeks ago are hampering the 2017/18 soy harvest, which could have an impact on grain production that has already suffered hard cuts by a drought that extended throughout the austral summer. Excessive moisture could reduce soybean yields by 5 to 15 percent, and cause a 30 percent drop in its price because, because of the weather, the pods are opening early or the Grains are germinating within them. Some sources speak of a soybean production of 37, 38 million tons, and that the effect of the rains could be between 1, 1.5 million less.
NCDEX coriander up on bargain buying; spot unch
Futures contracts of coriander on NCDEX rose over 1% as investors bought the commodity at lower price levels. Prices had declined nearly 22% since the start of 2018. The most-active June contract traded at 4,893 rupees per 100 kg, up 1.5% from the previous close. Prices, however, remained almost steady in the benchmark Kota market due to subdued demand and lower than expected arrivals.