Futures contracts of mustard seed rose on NCDEX
Ram Gopal Yadav (7 years ago)

Futures contracts of mustard seed rose on NCDEX, tracking gains in the benchmark Jaipur market where prices were up due to fresh demand from domestic oil millers and crushers after the recent fall in prices. On NCDEX, the most active July contract was at 3,972 rupees per 100 kg, up 0.86%. A decline in stocks of the oilseed at the exchange-accredited warehouses also supported the contracts.

Brazil Soybean Exports Expected to Pass U.S.
Ram Gopal Yadav (7 years ago)

A forecast by the Department of Agriculture shows an increase in production could drive Brazil to pass the U.S. in soybean exports. Brazil is already the leading global producers of soybeans, and the second-largest exporter of the crop. USDA says Brazil’s soybean output is currently forecasted to exceed that of the United States by the 2018/19 marketing year. The milestone would represent a 22 percent increase in production over the last three years for Brazil. Almost all the increased production has made its way to the export market, according to USDA, which has risen 34 percent over the same time. In addition to significant growth in sales to China, Iran and Russia, domestic conditions in 2018 have also driven up exports. In May, Brazil’s soybean shipments reached a record high, despite a trucker strike in the nation and stalled deliveries to ports.

NCDEX soybean up as China to cut duty on Indian soy.
Ram Gopal Yadav (7 years ago)

Soybean futures on NCDEX rose after China said it will cut import tariffs on Indian soybean. The most active July contract on the domestic bourse was up 0.7% at 3,460 rupees per 100 kg. In Indore, the benchmark market, prices of soybean were up 25 rupees at 3,475-3,525 rupees per 100 kg.

Kharif paddy area down 1.3% YoY to 1.1 mln ha.
Ram Gopal Yadav (7 years ago)

Sowing of kharif paddy was hit as monsoon current stalled for more than a week, leading to a 1.3% on-year fall in acreage. The crop was planted across 1.10 mln ha compared with 1.12 mln a year ago. The monsoon current has resumed progress and hit Bihar. With a pick up in circulation of monsoon current, paddy sowing is also expected to gather pace.

MMTC seeks expression of interest to export 200,000 tn rice.
Ram Gopal Yadav (7 years ago)

State-owned MMTC Ltd has invited expression of interest from suppliers for export of 200,000 tn of non-basmati rice, white or parboiled, of Indian origin. Interested suppliers have to submit their expression of interest by Jul 5. The commodity should be packed in polypropylene bags of 50 kg each, and must be in “good condition, fit for human consumption, without any unpleasant odour, free from any sign of mould, fermentation or deterioration, and free from any obnoxious and deleterious matters and poisonous weed seeds. The rice must also be free from any kind of insect infestation. The grain should be delivered on cost, insurance, and freight basis at discharge port.

Bangladesh invites bids for import of 50,000 tn milling wheat.
Ram Gopal Yadav (7 years ago)

Bangladesh has invited bids for import of 50,000 tn milling wheat from international suppliers. The deadline for submission of quotations on Jul 3, and bids will be opened on the same day. The country has sought delivery of the consignment within 40 days from the date of signing of the contract.

India Govt FY19 wheat procurement rises 16% YoY to 35.5 mln tn.
Ram Gopal Yadav (7 years ago)

Government’s wheat procurement for the current year started April has topped 35.0 mln tn, up 15.8% on year. The Centre has so far purchased 35.5 mln tn wheat during the current marketing year, against a target of 32 mln tn. In Punjab, the government has purchased 12.7 mln tn wheat so far, while the target was 11.9 mln tn.In Haryana, 8.7 mln tn wheat has been purchased against the target of 7.4 mln tn. In Madhya Pradesh, another major wheat producing state, the procurement was 8.4% higher on year at 7.3 mln tn. The procurement was 42.8% higher on year in Uttar Pradesh at 5.1 mln tn.

NCDEX mustard seed up taking cues from spot markets.
Ram Gopal Yadav (7 years ago)

Futures contracts of mustard seed were up on the NCDEX, taking cues from Jaipur, Rajasthan, where prices rose due to a fall in arrivals amid fresh demand from domestic oil millers and crushers. On the NCDEX, the most active July contract was at 3,934 rupees per 100 kg, up 0.3%. In Jaipur, the benchmark market, prices rose by 10-15 rupees to 4,090-4,100 rupees per 100 kg.

Mustard seed up in Jaipur as arrivals fall sharply
Ram Gopal Yadav (7 years ago)

Prices of mustard seed rose in Jaipur, Rajasthan, due to a sharp fall in arrivals amid renewed demand from domestic stockists after a recent fall in prices. In benchmark market Jaipur, prices rose by 10-15 rupees to 4,090-4,100 rupees per 100 kg. Arrivals of mustard seed in Jaipur were estimated at 75,000 bags (1 bag = 85 kg), down 25,000 bags. Expectation of a rise in demand of mustard oil in the monsoon season also supported prices of mustard seed. However, tepid demand for mustard meal from overseas buyers capped the rise in prices.