Soymeal prices on Europe’s animal feed market edged lower, tracking soymeal futures in a further consolidation after a rally to multi-months highs earlier in the week. Brokers expected the market, mainly driven by weather elements, including dry weather in Argentina and in the US Midwest, to remain volatile in the coming weeks. Argentine high-protein soymeal for May delivery was offered at $493 a tonne cif Rotterdam, down $4, while Brazilian high-protein soymeal for May was offered at $504 a tonne cif Rotterdam, down $6.
Unseasonal rains in North India may slow down wheat procurement.
Unseasonal rains in North India may slow down wheat procurement.
RBI extends cash credit limit for wheat procurement in Punjab.
RBI extends cash credit limit for wheat procurement in Punjab.
Wheat procurement in Haryana at 81.49 lakh MT, crosses last year’s level.
Wheat procurement in Haryana at 81.49 lakh MT, crosses last year’s level.
USDA arm sees Russia 2018-19 wheat crop down 13%.
USDA arm sees Russia 2018-19 wheat crop down 13%.
U.S. whole wheat flour production dips in quarter.
U.S. whole wheat flour production dips in quarter.
Rain, hailstorm damage maize, melon crops in Punjab.
Rain, hailstorm damage maize, melon crops in Punjab.
Official says Telangana govt procures 100,000 tn rabi maize so far.
Official says Telangana govt procures 100,000 tn rabi maize so far.
Egypt allows cultivation of more 100k feddans of rice.
Egypt allows cultivation of more 100k feddans of rice.
NEDA expects rice imports to cool rising PH inflation by at least 1%.
NEDA expects rice imports to cool rising PH inflation by at least 1%.
Untimely rains break the back of paddy farmers in East Godavari.
Untimely rains break the back of paddy farmers in East Godavari.
Madras HC to hear Madhya Pradesh basmati tag claim case on Jun 14.
Madras HC to hear Madhya Pradesh basmati tag claim case on Jun 14.
Soybean falls on NCDEX tracking CBOT contracts
Futures contracts of soybean fell on the NCDEX, tracking weakness in bellwether contracts on the CBOT. Soybean contracts on CBOT were down this week as fears of a trade war between the US and China resurfaced, stoking concerns of an oversupply. China is the largest buyer of soybean from the US and has started to source some of its requirement from Brazil, the second largest producer of the oilseed after US. Sowing of soybean may be higher this season compared with a year ago owing to lucrative rates. Lower demand for Indian meal from overseas buyers is also seen weighing on soybean prices.
India Mar mustard crushing seen doubling on month
Rise in new arrivals.Mustard crushing across the country was estimated at 800,000 tn in March, more than double from last month’s 375,000 tn. In March, mills increased crushing operations after new crop arrivals increased. A crucial rabi oilseed crop, mustard is sown during Sep-Oct and is harvested from February. New crop arrivals begin in February, and gain momentum by March. The arrivals remain in full swing till May and start dwindling from June. In March, total arrivals of mustard seed were estimated at 1.1 mln tn. The supply in Rajasthan, the largest grower, were at 550,000 tn, Uttar Pradesh at 190,000 tn, Madhya Pradesh and Chhattisgarh together were at 80,000 tn
Ukraine winter rapeseed plantings mostly in good and fair condition
The average daily air temperature climbed over 100? on April 1-10 (on April 11-22 in the northeasternmost areas), or 10-25 days ahead of the long-term average. At the time, precipitation in Sumy, Kharkiv, Dnipropetrovsk, Donetsk regions amounted to 54-69% of normal (7-9 mm). Odesa, Cherkasy, Zakarpattya regions, most parts of Mykolaiv, Kherson, Kirovohrad regions and single areas in Kyiv, Chernihiv, Vinnytsia, Lviv and Rivne regions received no precipitation at all. Winter rape plantings are at the stages of stem growth, emergence of inflorescence, and even at the beginning of bloom in some southern areas. Their condition is mostly good and fair, being poor in some northern areas
Soybean up in Indore on CBOT cues, tight supply.
Soybean prices rose marginally in Indore tracking gains in bellwether contracts on the CBOT and lower-than-usual supplies. Average arrivals in the first week of May last were estimated at 50,000 bags. CBOT soybean was up on worries of lower output in Argentina and higher exports from the US.
Ukraine soybean oil exports reached a record in 2017/18 season
Soybean oil exports in 2017/18 (September-March) reached a record 104.2 KMT that is up 3.3% on the year (100.9 KMT). Ukrainian soybean oil exports totaled 19.6 KMT in March 2018. This is as much as in the previous month but down 17.3% from March 2017, when export supplies from Ukraine hit an all-time high of 23.7 KMT. UkrAgroConsult expects 2017/18 soybean oil exports at record high level of 160 KMT.
Strength in soy crush margins ‘down to more than Argentine drought
The rebound in soybean crushing margins is down to more than Argentine drought. The drought in Argentina certainly contributed to the increasing soy crush margins.
India coriander down on high imports
The trend for futures contracts of jeera, mentha oil and turmeric in the next five trading sessions is seen bullish, while coriander and cardamom contracts may post losses. On the National Commodity and Derivatives Exchange, prices of coriander may continue to decline as demand is very poor and imports are on a rise. Imports may rise from Ukraine as the country’s production is likely to double to 14,000-16,000 tn this year.
Rain damages wheat, hits purchase in Moga (punjab).
Rain damages wheat, hits purchase in Moga (punjab).