Egypt’s wheat production to increase 4.3% YoY in 2018/19.
Uttar Pradesh clocks 100% rise in wheat procurement at 3 MMT.
Uttar Pradesh clocks 100% rise in wheat procurement at 3 MMT.
India wheat procurement exceeds last year’s level at nearly 31 MT.
India wheat procurement exceeds last year’s level at nearly 31 MT.
U.S corn exports firm- WoW.
U.S corn exports firm- WoW.
NCDEX coriander tad dn on muted demand; spot unch
Futures contracts of coriander on NCDEX shed early gains and traded marginally lower due to subdued demand for the commodity from spices makers and local stockists. The most active June contract of coriander on NCDEX was down 0.3%. Coriander prices are likely to trade in a range of 4,700-4,900 rupees per 100 kg in the short term due to absence of any major fundamental trigger. In Kota, the benchmark market, the badami variety of coriander was and the eagle variety both steady from previous close.
Soybean futures are trading 3 to 4 cents higher
Soybean futures are trading 3 to 4 cents higher. Sharp losses of 16 to 18 1/2 cents in the front months, as traders took money off the table going into the weekend. July lost 3.23% for the week. Soy meal was $7.80/ton lower, with front month soy oil up 19 points. Aggressive farmer selling in Brazil has been reported, with strong domestic prices recently. Spec funds were net long 127,042 bean contracts, down 50,005 contracts from the previous week. The USDA updated their old crop US soybean cash average price to $9.35, with the new crop midpoint at $10.00. Canola stocks in Canada at the end of March rose 14.4% from last year to 9.077 MMT, the second largest March total recorded.
Madhya Pradesh sees 15,700 tn certified soy seed shortage in kharif
Madhya Pradesh, the top producer of soybean, is likely to face a shortage of over 15,700 tn certified seeds in 2018-19 (Jul-Jun) kharif season due to patchy monsoon rains last year. less soybean seeds available with the state agencies for sowing in upcoming kharif season. A shortfall of 15,700 tn certified seeds will lead to a fall in acreage of 157,000 ha. The shortage in certified soybean seeds is way higher than the Centre’s estimate of 9,300 tn for the country, against a requirement of 290,976 tn. Madhya Pradesh requires over 50% of around 1.1 mln tn of certified and non-certified soybean seeds in the country.
NCDEX soybean down tracking CBOT; spot unch
Soybean contracts were down on NCDEX tracking weakness in the bellwether contracts on CBOT. The most-active June contract of soybean was down 0.5%. Soybean contracts on CBOT were down due to expectations of higher acreage under the oilseed this season. In the benchmark market of Indore, price of the commodity was unchanged. Lower arrivals of the oilseed in local markets are seen limiting the fall in domestic prices amid sluggish demand. Arrivals of soybean were down.