Hail and thunderstorm damage wheat in Maharashtra.
India edible oil Up; soybean rises 2%.
Futures contracts of all components of edible oil basket rose on domestic exchanges. The most-active March contract of soybean closed nearly 2% higher on the National Commodity and Derivatives Exchange due to a pickup in demand from crushing plants. Refined soyoil on the NCDEX and crude palm oil on the Multi Commodity Exchange rose due to robust demand in the wholesale markets. Gains in key crude palm oil contracts on the Malaysian bourse also supported prices on the Indian exchange
Mustard seed prices up in Jaipur on miller’s demand
Prices of mustard seed were up in Jaipur, Rajasthan due to rising demand from domestic oil millers and crushers amid a fall in the acreage of the oilseed. A fall in arrivals also supported prices
Coriander down in Kota on low demand for new crop
Prices of coriander fell in Kota, the benchmark market, because of higher arrivals and weak demand for the new crop as it contains high moisture. Moisture content currently in the new crop is quite high than the desired level of 78%.
CBOT soybean up on weather concerns in Argentina
Futures contracts of soybean on NCDEX rose around 2% due to concerns over fall in Argentina’s output due to persistent dry weather in the country. The most active March contract on the CBOT was at $10.0125 a bushel, up 1.9% from the previous close. US Department of Agriculture, in its February report, lowered its production estimate of soybean in Argentina to 54 mln tn, down 2 mln tn from its previous forecast. Weakness in dollar index is also seen supporting prices of soybean in the global market.
Asia Rice-Prices retreat in top exporters as demand wanes.
Asia Rice-Prices retreat in top exporters as demand wanes.
Centre relaxes FAQ norms for farmers of 15 distt. in Odisha.
Centre relaxes FAQ norms for farmers of 15 distt. in Odisha.
Brazil’s expected rise in ethanol demand to be met by corn-based fuel.
Brazil’s expected rise in ethanol demand to be met by corn-based fuel.
China corn import estimates raised 20% on sorghum investigation.
China corn import estimates raised 20% on sorghum investigation.
Brazilian sales push EU corn imports 54% higher YOY.
Brazilian sales push EU corn imports 54% higher YOY.
Kenya’s cross-border maize imports peak as prices surge.
Kenya’s cross-border maize imports peak as prices surge.
US wheat stocks higher, Indonesia world’s biggest buyer.
US wheat stocks higher, Indonesia world’s biggest buyer.
Latest GASC rule change draws cautious optimism from wheat trade.
Latest GASC rule change draws cautious optimism from wheat trade.
NCDEX wheat up rises on hopes of import duty hike.
NCDEX wheat up rises on hopes of import duty hike.
Farm ministry proposes raising import duty on wheat to 40-50%.
Farm ministry proposes raising import duty on wheat to 40-50%.
India wheat imports seen surging 40% on winter crop stress.
India wheat imports seen surging 40% on winter crop stress.
BAGE cuts soybean production estimate to 50 million mt
A dearth of rain in the Las Pampas and northern areas of the country has prompted the Buenos Aires Grain exchange to cut its forecast of soybean production 1 million mt to 50 million mt. It is the second successive week that BAGE has cut its estimate of soybean production. Last week it cut its estimate to 51.5 million from 54 million mt.
Russia oilseed stocks down 6.6% year-on-year as of early January
Russian agricultural companies held 2823 KMT of oilseeds as of January 1, 2018, or 201 KMT (6.6%) less than at the same time last year (3024 KMT). Oilseed stocks fell by 873 KMT in December. Farmer sunseed stocks totaled 1620 KMT, or 266 KMT (14.1%) less than at the same time last year (1620 KMT). Sunseed stocks dropped by 562 KMT in December
Ukraine handling of vegetable oils increased by 18% in 2017
In 2017 seaports of Ukraine handled 40.6 MMT of grain, which was 0.6% more than during the same period last year. Handling of vegetable oils in Ukrainian seaports increased 17.7% to 5.5 MMT in 2017, compared to 4.7 MMT over the same period last year. This indicator became a record one, while stable and rapid growth of vegetable oils processing shows prospects of this direction in the port industry of Ukraine. In 2017 Nikolayev, Chernomorsk and Yuzhnyi ports remained the largest ports for vegoil handling in Ukraine
Tanzania’s rice exports to Kenya, Rwanda to increase.
Tanzania’s rice exports to Kenya, Rwanda to increase.