Farmers have harvested 70% of the US soybean crop. Putting the harvest 3 percentage points behind the five-year average for this point in the year.
Brazil farmers frustrated with soybean planting delays.
Soybean planting reached 20% of the area forecast for the 2017/2018 harvest. Last year, planting was 29% in this period and 19% in the average of five years. The 2017/2018 Brazilian soybean planting season is being described as very variable. While in the southern region of Brazil it is raining, and the farmers accelerate planting, the Central-West region is suffering from irregular rainfall. The unfavorable climate already threatens to damage the second corn crop.
NCDEX soybean down 1% on strong supplies; spot flat.
Futures contracts of soybean fell over 1% on the NCDEX tracking a rise in supplies in the spot markets. the most active November soybean contract was down 1.1% from the previous close. In spot markets, however, prices were largely unchanged as strong demand from stockists offset the impact of a rise in arrivals.
NCDEX mustard seed hits 6-month high on higher demand.
The November contract of mustard seed on the NCDEX, hit a six-month high, owing to improved demand for mustard oil. On NCDEX, the most active November contract was up 24 rupees from previous close. A decline in stocks at exchange-accredited warehouses also supported mustard seed prices
Sugar prices down in north India due to poor demand.
Prices of sugar fell in the key wholesale markets of north India due to sluggish demand from bulk buyers. The sentiment for sugar prices is bearish as the cane-crushing season for 2017-18 (Oct-Sep) was drawing near.
Chana prices down in Delhi on subdued demand.
Prices of chana fell in Delhi because of subdued demand from the dal millers. November futures of chana on NCDEX hit 3% lower limit tracking weakness in the spot market.
Maharashtra cotton procurement unlikely till mid-Nov on arrival lag .
Maharashtra cotton procurement unlikely till mid-Nov on arrival lag .
Delhi coriander prices eases on subdued demand.
Delhi coriander prices eases on subdued demand.
Corn planting delays by 35% in Argentina.
Corn planting delays by 35% in Argentina.
Thailand rice price up 15% this year on high demand.
Thailand rice price up 15% this year on high demand.
Bangladesh approves purchase of 0.1 MMT rice from India.
Bangladesh approves purchase of 0.1 MMT rice from India.
Rice prices up in India, Vietnam as rains dampen crop supply.
Rice prices up in India, Vietnam as rains dampen crop supply.
Basmati farmers in Punjab & Haryana rake it in.
Basmati farmers in Punjab & Haryana rake it in.
Ethiopia seeking foreign wheat.
Ethiopia seeking foreign wheat.
Algeria bought 660,000 MT wheat in tender.
Algeria bought 660,000 MT wheat in tender.
Winter wheat planting in Kazakhstan hampered by precipitation.
Winter wheat planting in Kazakhstan hampered by precipitation.
Punjab (in Pakistan) govt sets wheat cultivation target at 16.4 million acre.
Punjab (in Pakistan) govt sets wheat cultivation target at 16.4 million acre.
Farm agency raises forecast for ’17-18 average chana price in Canada
Agriculture and Agri-Food Canada has raised its forecast for prices of chana in the country to an average $1,100-$1,130 a metric tonne in 2017-18 (Aug-Jul) from its September estimate of $1,000-$1,030 due to strong global demand. Canada’s farm agency has revised upwards its price forecast despite reports of likely higher sowing of the pulse in India. The agency has forecast production of chana in Canada at 81,000 metric tonne in 2017-18, unchanged from its previous estimate but a tad lower than last year’s output of 82,000 metric tonne. Supply of chana, or chickpeas, is expected to decline by 26% on year to 96,000 metric tonne due to lower carry-in stocks and imports. The agency, however, has lowered its average price estimate for lentils to $650-$680 per metric tonne from its September estimate of $720-$750.
Farmers’ body to auction moong via NCDEX e-markets
Small Farmers’ Agribusiness Consortium offer 495.77 metric tonne of moong for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other godowns in Rajasthan, Madhya Pradesh and Telangana.
MMTC to auction 4,492 metric tonne masoor via NCDEX e-markets
MMTC offer 4,491.50 metric tonne of masoor imported from Canada, 2,665 metric tonne of tur imported from Malawi and Mozambique and 2,633.50 metric tonne of urad imported from Myanmar, for auction through NCDEX e-markets. Pulses, to be auctioned, are stocked at Central Warehousing Corp and other godowns in Tamil Nadu, Gujarat, and Maharashtra.