Futures contracts of coriander on NCDEX hit the 3% initial upper circuit because investors bought the commodity after prices fell to a one-week low. The most-active April contract of coriander on NCDEX traded at 5,914 rupees per 100 kg, up 2.7% from the previous close. Expectation of lower production in 2017-18 (Oct-Sep) as farmers shifted from coriander to jeera following attractive prices of the latter last year, also supported coriander futures.
NCDEX soybean up on supply worries, short covering
Futures contracts of soybean rose on the NCDEX on concerns over a likely fall in arrivals in the coming days. The most active February contract was up 29 rupees. Talks of a hike in duty on the edible oil are also seen lifting prices.
NCDEX mustard seed down tracking benchmark market
Futures contracts of mustard seed on the NCDEX fell, tracking losses in the benchmark market of Jaipur. Prices of mustard seed fell in Jaipur due to a rise in arrivals amid subdued demand from domestic stockists and oil millers after a recent surge in prices. Expectations of a fall in output of the oilseed in Rajasthan, however, cushioned the fall in prices. The most active April contract on the NCDEX was down 30 rupees.
Mustard seed down in Jaipur on rise in arrivals
Mustard seed was quoted lower in Jaipur due to a rise in arrivals amid subdued demand from stockists and oil millers after a recent surge in prices. Expectations of a decline in output of the oilseed in Rajasthan cushioned the fall in prices to some extent.
European Commission lowers basmati fungicide tricyclazole’s tolerance limit to 0.001 ppm.
European Commission lowers basmati fungicide tricyclazole’s tolerance limit to 0.001 ppm.
Russian wheat export prices on the rise.
Russian wheat export prices on the rise.
Philippines importing Ukrainian wheat at a record pace.
Philippines importing Ukrainian wheat at a record pace.
India wheat futures soften by 0.24% on ample stocks.
India wheat futures soften by 0.24% on ample stocks.
CBOT wheat hits 4-month high on US crop damage concerns.
CBOT wheat hits 4-month high on US crop damage concerns.
Mexico corn production estimate climbs, imports cut.
Mexico corn production estimate climbs, imports cut.
Heavy rains not seen slowing Brazilian winter corn.
Heavy rains not seen slowing Brazilian winter corn.
NCDEX coriander falls 2% on high carryover stocks
Futures contracts of coriander on NCDEX today fell over 2% due to higher carryover stocks from last season and expectations of a rise in arrivals of the new crop from February. The most active April contract of coriander on NCDEX traded at 5,756 rupees per 100 kg, down 2.3% from the previous close. Lower arrivals prevented prices from falling amid anticipation of a rise in supply soon.
Argentina soy yields to fall 13%.
Argentinian production of soybean is to hit a five-year low of 52 million mt in the 2017/18 crop year, as yields are expected to fall to 13% to 2.9 tonnes per hectare. A lack of rainfall over the past two months has been the main reason for the yield write-down, which will see production fall 9% below the previous crop year and 8% on the previous five-year average. The board expects the planting area to be 18.5 million hectares, although that figure is down on the 18.8 million hectares that were expected to be planted due to a lack of rain. The damaging effect of the moisture deficit is not limited to the smaller area planted, but the emergence of seedlings in these conditions have already forced us to discount potential yields in the new campaign.
NCDEX mustard down on profit booking post 1-yr high
Futures contracts of mustard seed fell on NCDEX as traders booked profits after prices hit a one-year high. Expectations of a lower output in Rajasthan, the key growing state of the oilseed, however, cushioned the fall in prices.
NCDEX soybean down 2% on profit booking post high
The most active February contract traded at 3,743 rupees per 100 kg, down 1.8% from the previous close, after hitting the 3% lower circuit. A 20,070-tn fall in open interest of February contract to 202,500 tn indicated profit booking. The contract hit the high on reports Madhya Pradesh revised its production view downward.
Higher price hits demand for soybean in Indore
Prices of soybean in Indore, Madhya Pradesh fell as demand from domestic oil millers. A rise in arrivals also put pressure on soybean prices. Supplies have increased because farmers have offloaded more to avail better prices.
Wheat prices fall in Delhi on weak demand.
Wheat prices fall in Delhi on weak demand.
CBOT wheat hits 2-week high on weak dollar index.
CBOT wheat hits 2-week high on weak dollar index.
French wheat export target at risk as competition bites.
French wheat export target at risk as competition bites.
Russia’s wheat dominance set to get bigger in the future.
Russia’s wheat dominance set to get bigger in the future.