NCDEX coriander contracts up 1% as acreage falls
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on NCDEX rose 1% because the area under the spice in the current season declined, as farmers have shifted to other lucrative crops. The most active January contract of coriander on NCDEX was up 1% from the previous close. In Gujarat, the second-largest producer of coriander, the commodity was sown across 67,500 ha, 43% lower on year.

Brazil soybean crop revised down to 114.57 mln tonnes
Ram Gopal Yadav (8 years ago)

Brazilian farmers are expected to produce 114.57 million tonnes of soybeans in the 2017/18 crop cycle. The figure represents a slight downward adjustment from an October estimate of 114.7 million tonnes, although it would still be an all-time record for Brazil. The estimate was revised after small adjustments in soy’s estimated planted area this season, but it does not change the overall trend as farmers increasingly switched from corn to soy in this crop cycle. Safras forecasts a 5 percent rise in Brazil’s soy planted area to 35.49 million hectares (87.7 million acres) this crop.

Officials forecast increase in Bulgarian rapeseed production
Ram Gopal Yadav (8 years ago)

The Bulgarian Ministry of Agriculture has increased the country’s 2017-18 rapeseed production forecast by nearly 6% from an estimate earlier this year, to 460,000 tonnes, due to higher yields. Average rapeseed yield in Bulgaria has risen to 2.84 tonnes per acre from the previous estimate, but that is still 3.7% lower than the average yield in 2016-17, when total rapeseed production was 509,000 tonnes.

Soybean planting reaches 63.5% of surface in Argentina
Ram Gopal Yadav (8 years ago)

The soybean planting in the country is still delayed and reached 63.5% of the estimated surface of 44.7 million acres. The half of the remaining area is expected to be planted in the coming two weeks if the weather helps. In the case of corn, the works have advanced to 45.3% of the total surface of 13.3 million acres. The weather has been a worry for crops in the Northern provinces of Chaco and Salta.

Russia threatening Brazil with a ban on soybean imports
Ram Gopal Yadav (8 years ago)

Quarantine pests have been revealed 20 times over the last one and a half months and 127 times since the beginning of 2017 against 91 times in 2016. So, the situation is much worse this year. If Brazil takes no measures, Ros Selkhoz Nadzor impose a provisional ban on Brazilian soybean imports.

Cbot Soybean prices near lowest since early Oct, S. American weather weighs
Ram Gopal Yadav (8 years ago)

Soybeans pressured by rains in Argentina, record Brazilian crop. Chicago soybean futures edged lower, with the market trading near its lowest in almost 11 weeks as forecasts of rain in Argentina’s drought-hit oilseed growing areas weighed on prices. Rains that fell on Argentina’s main farm belt over the weekend brought relief to parched soybean. The Chicago Board of Trade most-active soybean contract slid 0.1 percent to $9.61 a bushel.

Malaysia CPO ends lower on firm ringgit vs dollar
Ram Gopal Yadav (8 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower due to a strong ringgit against the dollar. The most-active March contract of crude palm oil on the Malaysian bourse closed at 2,518 ringgits (39,541.18 rupees) per metric tonne, down 0.4% from the previous close.

NAFED procures 70,004 metric tonne soybean, 570,076 metric tonne groundnut
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 70,004 metric tonne of kharif soybean and 570,076 metric tonne of groundnut-in-shell in key growing states of the country. The procurement of soybean is underway in Maharashtra, Rajasthan and Telangana, while procurement of groundnut is being carried out by Gujarat, Rajasthan and Andhra Pradesh. Gujarat is the top producer of the kharif groundnut. Maharashtra and Rajasthan are the second and third largest producers of soybean in the country.