India soybean area could jump 15% to beat higher costing palm oil
Ram Gopal Yadav (8 years ago)

Indian farmers are likely to expand soybean planting areas by nearly 15 percent after the government raised edible oil import tax to the highest level in more than a decade, lifting domestic oilseed prices to nearly two-year highs. Higher production of the main summer-sown oilseed could help India, the world’s biggest vegetable oil importer, trim costly imports from Brazil, Argentina, Indonesia and Malaysia. It could also mean a boost in exports of soymeal, a key animal feed, to Asian buyers such as Japan, Vietnam and Bangladesh. Soybean has been giving farmers good returns. Indian soymeal once accounted for nearly a quarter of all Southeast Asian imports, but the country’s share has been falling due to rising domestic soybean consumption amid stagnant production.

Soybean futures rise 1.14% on global cues
Ram Gopal Yadav (8 years ago)

Soybean prices rose by Rs 42 to Rs 3,721 per quintal in futures trade today on accumulation of bets backed by rising overseas trend. Marketmen said widening of bets by speculators in tune with upbeat overseas sentiment, supported the upside in soybean futures prices. At the NCDEX, soybean for delivery in June contracts shot up by Rs 42, or 1.14 per cent.

Soybean futures saw gains of 13 to 17 cents in most front months.
Ram Gopal Yadav (8 years ago)

Soy meal led the way, up $14/ton, with front month soy oil down 38 points. Managed money in soybean futures and options trimmed their net long position by 22,874 contracts to 170,094 contracts in the week that ended 4/24. Canola acreage in Canada is seen at 21.383 million acres in 2018, a 7% drop from a year ago and well below most expectations. Stats Canada soybean acreage intentions were reported at 6.452 million acres, down 11.41% from 2017. BAGE estimates that the Argentine soybean crop is 54% harvested, compared to the average of 43.4%. Recent production estimates have been around 38 MMT, with crushers drawing down stocks and importing soybeans in an attempt to maintain soybean meal exports at typical May levels.

Coriander futures fall 1.98% on easing demand
Ram Gopal Yadav (8 years ago)

Coriander prices fell 1.98 per cent to Rs 4,700 a quintal in futures market as participants trimmed their holdings on the back of easing demand at the spot market. Besides, increased supplies from major producing regions also fuelled the downtrend. At the National Commodity and Derivatives Exchange, coriander prices for delivery in May contract declined by Rs 95, or 1.98 per cent. Market analysts attributed the fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.

Egypt about 58 KMT of vegoils purchased in a tender
Ram Gopal Yadav (8 years ago)

The Egyptian state buyer GASC purchased 29.5 KMT of sunflower oil and 28.2 KMT soybean oil in a tender held on April 26, 2018. the sunflower oil was bought from Aston (11.5 KMT) and ADM (18 KMT) at a price of USD 816.5/MT. The soybean oil was bought from Alex Co (13.2 KMT) and Cargill (15 KMT) at a price of USD 781.5/MT. The delivery period is July 1-15, 2018.

Argentina soybean harvest at record pace, yields decline
Ram Gopal Yadav (8 years ago)

Argentina’s soybean harvest accelerated over the past week with harvested areas reaching 54% of the planted acreage, an increase of 14.4 percentage points on the week and up 21.7 percentage points on last year: BAGE. The accumulated harvested volume crossed the 22 million mt mark, with the total expected at 38 million mt, unchanged on the week. Average yields slipped back from 2.56 mt per hectare last week to 2.38 mt per hectare, as the majority of lots in good condition are already harvested and action now moves towards areas that have suffered more severely from the drought.