Soybean contracts on NCDEX fell about 1% because of lower export demand for soymeal. The most-active May contract was down 0.8%.
Russia sunseed inventories in Russia fell to 0.9 MMT
Russian growers held 1629.1 KMT of oilseeds as of April 1, 2018 that is 64 KMT (3.8%) less than at the same time last year (1693.1 KMT). Oilseed inventories reduced by 491.3 KMT in March. Farmer sunseed stocks totaled 871 KMT – down 186.7 KMT (17.6%) from the same time last year (1057.7 KMT). Sunseed inventories reduced by 344 KMT in March.
Drought reducing soybean output in Uruguay
Due to the recent devastating drought, soybean production in Uruguay is forecast to drop to 1.7 million tonnes in 2017-18. This is a drop of 43% compared to the USDA’s original estimate of 3 million tonnes. Soybean crush for 2017-18 is revised down to 60,000 tonnes — a 20% decline from the previous crop year due to lower soybean supplies. The USDA forecasts a recovery for both soybean production and crush in 2018-19. It predicts output of 3 million tonnes and crush at 80,000 tonnes, which is a return to pre-drought historical levels.
Lag in US spring sowings grows by more than 1.6m acres in a week.
US farmers, tackling a late start to spring, have fallen even further behind on sowings, with the lag expanding by a further 1.6m acres last week, although an improved weather outlook is raising hopes for playing catch-up. Farmers seeded a little over 27m acres of the 219m acres they intended to plant with 10 major spring crops, such as corn, cotton, soybeans and spring wheat. However, a small lag, equivalent to 270,000 acres, opened up in cotton too, while the delay in oat plantings expanded, in percentage terms, to 25 points, equivalent to nearly 700,000 acres in area.
NCDEX coriander at 6-mo low on high imports.
Futures contracts of coriander extended Friday’s loss and hit a six-month low of 4,686 rupees a 100 kg on NCDEX today on reports of continuous imports from Ukraine and other countries. On NCDEX, the most-active May contract was at 4,711 rupees per 100 kg, down 1.8% from previous close. Record-high carryover stocks in India also added to the losses. The prices fell despite lower supplies.
FAO says avg Jan-Apr export price of Indian non-basmati rice up 12%.
FAO says avg Jan-Apr export price of Indian non-basmati rice up 12%.
India rabi paddy procurement from May 1.
India rabi paddy procurement from May 1.
Punjab, Haryana need to look beyond paddy.
Punjab, Haryana need to look beyond paddy.
Cargill to open $ 10 Mln corn bulk storage facility in India.
Cargill to open $ 10 Mln corn bulk storage facility in India.
Cargill to open Davangere corn silo in May.
Cargill to open Davangere corn silo in May.
Wheat procurement in Haryana crosses 7.9 MMT.
Wheat procurement in Haryana crosses 7.9 MMT.
Punjab govt to compensate for damage to wheat on 793 acres.
Punjab govt to compensate for damage to wheat on 793 acres.
Pakistan cleared 500,000 tonne subsidised wheat export quota.
Pakistan cleared 500,000 tonne subsidised wheat export quota.
Madhya Pradesh may miss its wheat buy aim, can end near 7 MMT.
Madhya Pradesh may miss its wheat buy aim, can end near 7 MMT.
Mustard oil softens on subdued local demand
In restricted activities, mustard oil prices drifted lower by Rs 50 per quintal owing to sluggish local demand. However, other edible and non-edible oils moved in a narrow range in scattered deals and settled around overnight levels. Sluggish local demand against ample stocks position, mainly weighed on mustard oil prices.
CBOT wheat up over 1% on crop damage concerns in US.
CBOT wheat up over 1% on crop damage concerns in US.
Paraguayan soy exports to Argentina to double on drought: USDA
Exports of soybean from Paraguay are expected to be 6.1 million mt in 2018, according to USDA figures, up 200,000 mt on a previous estimate on the expectation of aggressive buying in Argentina.
US plantings kick into gear, but fall short of expectations
US plantings have seen a substantial week-on-week increase as a spell of dry weather and warmer ground temperatures fired plantings across corn, spring wheat and soybeans,: USDA.
Rising Mato Grosso soybean farm prices may accelerate forward sale
A deprecating currency and firmer premiums have pushed soybean farm prices in Mato Grosso above the total cost of production, which may see a further increase in forward selling.
Cargill resumes operations at two crushing facilities in Argentina
Agribusiness major Cargill resumed normal operations at two of its grain crushing plants in Argentina after suspending operations on April 20 as oilseed crushing workers undertook a series of strike actions.