Futures contracts of coriander on NCDEX rose over 1% as investors bought the commodity at lower price levels. Prices had declined nearly 22% since the start of 2018. The most-active June contract traded at 4,893 rupees per 100 kg, up 1.5% from the previous close. Prices, however, remained almost steady in the benchmark Kota market due to subdued demand and lower than expected arrivals.
Philippine’s National Food Authority completes bidding for rice imports.
Philippine’s National Food Authority completes bidding for rice imports.
Japan’s price-conscious consumers turn to foreign rice.
Japan’s price-conscious consumers turn to foreign rice.
Turkey imported 1 MMT of Russian corn.
Turkey imported 1 MMT of Russian corn.
US corn inspected for export up 29.3% on week, 122.2% on year.
US corn inspected for export up 29.3% on week, 122.2% on year.
NCDEX wheat up nearly 1% on high procurement by govt
NCDEX wheat up nearly 1% on high procurement by govt
FAO cuts 2018-19 global wheat output view by 3.4 MMT to 746.6 MMT.
FAO cuts 2018-19 global wheat output view by 3.4 MMT to 746.6 MMT.
Saudi Arabia buys 545,000 tonnes wheat in tender.
Saudi Arabia buys 545,000 tonnes wheat in tender.
Wheat drops to 1-week low as US crop condition improves, soybean prices firm.
Wheat drops to 1-week low as US crop condition improves, soybean prices firm.
Iraq says bought over 300,000 tonne local wheat so far this season.
Iraq says bought over 300,000 tonne local wheat so far this season.
NCDEX coriander dn on position rollover; spot unchanged
May contract of coriander on the NCDEX declined as investors rolled over their positions ahead of staggered delivery period of the contract. The contract was at 4,765 rupees per 100 kg, down 0.3% from the previous close.
Madhya Pradesh offers 100 rupees/100 kg incentive on mustard
The Madhya Pradesh government has declared an incentive of 100 rupees per 100 kg on minimum support price for mustard and masur to registered farmers. The incentive will be provided to the farmers who have harvested the crops in 2017-18 (Jul-Jun) rabi season.
Mustard prices a tad up in Jaipur as arrivals fall
Prices of mustard rose marginally in Jaipur as arrivals of the oilseed in local markets declined amid higher crushing activity by mills. However, futures contracts of mustard declined as traders booked profits after the May contract hit a two-week high. The most active June contract slipped a tad to 3,901 rupees per 100 kg while the May contract was down 7 rupees at 3,862 rupees.
Malaysia CPO ends flat as ringgit weak, CBOT soy down
Crude palm oil futures on Bursa Malaysia Derivatives ended flat as gains due to a weak ringgit against the dollar were offset by a decline in soyoil contracts on CBOT. A weak Malaysian currency makes the commodity cheaper for buyers holding other currencies.The most-active July contract of crude palm oil on the Malaysian bourse hit a near two-week high of 2,400 ringgits (40,727.94 rupees) per tn. The most-active July contract of crude palm oil on the Malaysian bourse hit a near two-week high of 2,400 ringgits (40,727.94 rupees) per tn.
Soybean futures are trading 5 to 6 cents higher
Soybean futures are trading 5 to 6 cents higher this morning in a little Turnaround reaction. They finished Monday with 19 to 25 1/4 cents losses in the front months. Pressure from meal and profit taking ahead of Thursday’s USDA report pressured prices lower. Soy meal was down $9.60/ton, with front month soy oil up 11 points. A plunge in the Argentine peso hurt US meal values by making exports less competitive. The USDA indicated that 533,667 MT of soybeans were shipped for the week that ended 5/3. That was down 22.89% from a week ago but 43.79% larger than this time last year. Soybean planting progress was shown 15% complete by the USDA on Monday afternoon. That was 10% more than last week and is now ahead of the average pace by 2%.
India soybean tad down tracking CBOT contracts
Futures contracts of components in the edible oil basket traded mixed on domestic exchanges. While soybean and mustard declined, refined soyoil rose and crude palm oil traded largely flat. The most-active May contract of soybean on the National Commodity and Derivatives Exchange were 0.2% lower. Soybean declined on the Chicago exchange as trade talks between the US and China were inconclusive. Imposition of tariffs would hit soybean imports by China and drag down prices of the commodity. Forecast of normal monsoon rains and shortage of soybean seed dragged down prices.
Indian basmati FOB weak in April.
Indian basmati FOB weak in April.
Rice prices rise in India as demand recovers; Thai prices dip ahead of harvest.
Rice prices rise in India as demand recovers; Thai prices dip ahead of harvest.
RBI extends CCL limit for Punjab wheat procurement till May end.
RBI extends CCL limit for Punjab wheat procurement till May end.
Wheat prices down in Shahjahanpur as rains hit quality.
Wheat prices down in Shahjahanpur as rains hit quality.