NCDEX chana hits 9-wk low on hope of higher sowing.
Ram Gopal Yadav (8 years ago)

Futures contracts of chana fell to nine-week low because of expectations of higher acreage under the pulse in this rabi season. The most-active November contract fell 2.6%. Sowing of chana in Maharashtra, Rajasthan, and Madhya Pradesh is expected to rise sharply this year which may weigh on the sentiment.

USDA arm sees Brazil 2017-18 soybean crop down 6% at 107 million metric tonne.
Ram Gopal Yadav (8 years ago)

Brazil’s soybean crop is seen at 107 million metric tonne in 2017-18 (Feb-Jan), down 6% on year. Brazil produced 114 million metric tonne of the oilseed in 2016-17. The fall in production is attributed to likely lower yields this time in the South American country. The USDA arm is currently using average yields for its forecast that are much lower than the record high yields of the previous season. Soybean acreage in Brazil is seen at 34.7 million ha in 2017-18, up from 34.0 million ha last year. Exports of the 2017-18 soybean crop are forecast at 64 million metric tonne, about 1.5% lower on year. Lower exportable supply due to smaller crop and higher domestic consumption of soymeal and soyoil is the key reason for a likely drop in overseas shipments from Brazil.

Malaysia CPO tad up tracking gains in CBOT soybean.
Ram Gopal Yadav (8 years ago)

Futures contracts of crude palm oil on Bursa Malaysia Derivatives were slightly up. The most active December crude palm oil contract on the Malaysian bourse was up 1 ringgit from the previous close. However, strength in the Malaysian currency against the dollar and a rise in palm oil inventories in September is seen restricting gains. A firm ringgit makes export of palm oil less attractive for Malaysian sellers. Weaker demand post the festival season is expected to further dampen price outlook.

Mustard seed tad up in Jaipur on oil millers buys.
Ram Gopal Yadav (8 years ago)

Prices of mustard seed rose in Jaipur because of a slight recovery in the demand from oil millers. Expectations of lower acreage under the oilseed this season due to warm temperatures in key growing areas are also seen supporting oilseed prices. However, futures of the oilseed on the NCDEX ended lower because of profit booking by the investors after prices hit two-week high.

India Soybean ends tad up on bargain buying; CPO eases.
Ram Gopal Yadav (8 years ago)

Futures contracts of key components of the edible oil basket, barring soybean, traded lower on domestic exchanges due to tepid demand in spot markets. Prices had been on a decline over the last eight trading sessions due to expectations of higher new-crop arrivals. Refined soyoil contracts on NCDEX and crude palm oil on MCX fell due to sluggish purchases from bulk buyers as most have replenished their inventories ahead of Diwali

India Govt may increase ethanol price by 5% for 2017-18.
Ram Gopal Yadav (8 years ago)

The government is likely to raise the price of ethanol by around 5% for supplies to oil-marketing companies for blending with petrol in the next marketing year through November 2018. The Cabinet Committee on Economic Affairs would soon take up a proposal to increase the ethanol price to around Rs 41 per liter for the 2017-18 marketing year from Rs 39 this year. The increase in the ethanol price would improve the ability of the sugar mills, the largest producers of the bio-fuel, to pay farmers on time for cane supplies.

CBOT soybean down as condition of US crop improves.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean on the CBOT rose after the USDA said that the crop was in a better condition than a week ago. November contract of soybean on CBOT was at $9.64 per bushel, down 0.2% from the previous close.