With farmers getting good remuneration from soybean in 2017-18 season, and with forecast of normal monsoon, SOPA (Soybean Processors Association of India has predicted a 14% increase in 2018-19 soybean acreage in India. Soybean could be sown on 120 lakh ha in the country, against 105 lakh ha last year.
South Korean firm buys corn over 1 MMT.
South Korean firm buys corn over 1 MMT.
CME announces corn futures open interest record.
CME announces corn futures open interest record.
India maize acreage up 14.7% on year at 344,000 ha as of 08 June.
India maize acreage up 14.7% on year at 344,000 ha as of 08 June.
Chinese officials to inspect Indian non-basmati rice mills in June-end.
Chinese officials to inspect Indian non-basmati rice mills in June-end.
Philippine rice inventory hits 6-month high.
Philippine rice inventory hits 6-month high.
Indian basmati FOB weak in May with sluggish demand.
Indian basmati FOB weak in May with sluggish demand.
India, China agree deals on rice, river as relations continue to thaw.
India, China agree deals on rice, river as relations continue to thaw.
India rice exports may drop by up to 1 million tonnes in FY19.
India rice exports may drop by up to 1 million tonnes in FY19.
Indian rice price soften as Bangladesh increases import duty.
Indian rice price soften as Bangladesh increases import duty.
India paddy acreage down 5% on year at 632,000 ha as of 08 June.
India paddy acreage down 5% on year at 632,000 ha as of 08 June.
Syrian state importer seeks 200,000 tonnes of wheat in tender.
Syrian state importer seeks 200,000 tonnes of wheat in tender.
Wheat prices rise in Kota market on fall in arrivals.
Wheat prices rise in Kota market on fall in arrivals.
Monsoon likely to ruin 50 lakh metric tons of wheat, pulses in Madhya Pradesh this year.
Monsoon likely to ruin 50 lakh metric tons of wheat, pulses in Madhya Pradesh this year.
NCDEX coriander up 2% on bargain buying; spot unch
The futures contracts of coriander were up nearly 2% on the NCDEX as investors bought the commodity. The most active July contract was up 1.7%. Open interest in the contract rose by 170 tn to 35,780 tn indicating bargain buying. In Kota the benchmark market, the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety was sold at 5,100 rupees, both steady from previous close. However, the medium term outlook for coriander remains weak because of low global demand and higher carryover stocks.
NCDEX mustard down tracking fall in soy, high stocks
Mustard seed contracts on the NCDEX were down tracking the fall in the soy complex on the exchange.Mustard seed prices dropped tracking soybean prices owning higher stockpiles in local mandis and government measures. The most active July contract on the NCDEX was down 0.8%.
NCDEX soybean down 1% as sowing gathers pace.
The most-active July soybean contract on the NCDEX fell nearly 1% as sowing in key growing areas in the country gathered momentum with the progress of monsoon. The contract was at 3,412 rupees per 100 kg, down nearly 1% from the previous close. Soybean sowing was at 17,000 ha, up 31% from a year ago. Reports of weak soymeal exports also weighed on sentiment. However, any sharp fall was limited due to gains in key soybean contracts on the CBOT.
Bangladesh hikes import duty on rice to 28% from 2% amid bumper crop.
Bangladesh hikes import duty on rice to 28% from 2% amid bumper crop.
US approves sale of genetic modified golden rice.
US approves sale of genetic modified golden rice.
China approves basmati imports from 14 rice mills in India.
China approves basmati imports from 14 rice mills in India.