India sugar down in most markets on poor demand, selling pressure.
High arrivals, weak demand weigh on mustard in Jaipur
Prices of mustard seed declined in Jaipur due to a rise in arrivals coupled with subdued demand from domestic oil millers and crushers. Subdued demand for mustard oil and meal from domestic and overseas buyers also weighed on seed prices.
Indonesia to miss corn self-sufficiency target: USDA
Indonesia to miss corn self-sufficiency target: USDA
USDA arm pegs India 2017-18 mustard crop at 6.4 mln tn
Mustard output to fall 9% on year to 6.4 mln tn in 2017-18 (Oct-Sep) because of lower acreage. Acreage was hit due to low soil moisture in Rajasthan, the top grower, and shift to other crops for better realisation. However, the USDA arm expects India’s mustard meal exports to double to 500,000 tn in 2017-18. Imports of mustard oil are seen rising to 500,000 tn from 325,000 tn a year ago. Mustard accounts for 25% of the country’s total oilseed production and comprises about 80% of rabi oilseed basket. The US agency estimated India’s 2017-18 soybean production at 9.0 mln tn, down 0.5 mln tn from the preceding year due to lower-than-expected yields. The Foreign Agriculture Services expects kharif oilmeal exports to rise to 810,717 tn in 2017-18, from 600,499 tn a year ago. The agency has projected India’s 2017-18 edible oil imports at an all-time high of 16.6 mln tn
Turkish imports of Romanian corn grew ten times over the whole last season
Turkish imports of Romanian corn grew ten times over the whole last season
NAFED procures 128,297 tn of chana at MSP in five states
National Agricultural Cooperative Marketing Federation of India had procured 128,297 tn of chana under the price support scheme across Telangana, Karnataka, Maharashtra, Rajasthan and Andhra Pradesh. The federation bought 8,762 tn in Rajasthan, 5,785 tn in Maharashtra, 18,505 tn in Andhra Pradesh, 63,901 tn in Karnataka, and 31,344 tn in Telangana as market prices in these states have slipped below the minimum support price of 4,400 rupees per 100 kg, inclusive of a 150-rupee bonus.Prices of chana have plunged due to poor demand from dal millers and rise in supply of the new crop in key markets.
Tur down in Akola on subdued demand from dal millers
Prices of tur fell in Akola, the benchmark market, due to subdued demand from dal millers.
FCI to offer 3,123.2 tn urad via NCDEX e-Markets
The Food Corp of India has offered 3,123.2 tn of urad for auction through NCDEX e-Markets. The pulse being auctioned is stocked at state and central warehouses in Madhya Pradesh and Uttar Pradesh.
Baran coriander prices unch on weak buys, low supply
Prices of coriander remained unchanged in key markets of Rajasthan and Gujarat as lower arrivals offset impact of weak demand from stockists. Demand, however, is likely to pick-up in coming days with the new crop having a low moisture content. Prices also remained unchanged in key market of Rajkot, Gujarat.
USDA soya private export sale of 129,000 MT of soybeans for 18/19 to China.
Central agencies to procure mustard, masoor from Madhya Pradesh
EU wheat exports down 25%, corn imports up 51%.
EU wheat exports down 25%, corn imports up 51%.
Ukrainian corn prices closed the week down USD 1/MT.
Ukrainian corn prices closed the week down USD 1/MT.
Rabi maize arrivals kick off in Bihar, supply to pick up in 15 days.
Rabi maize arrivals kick off in Bihar, supply to pick up in 15 days.
China grants more subsidies to soy farmers as it cuts corn stocks.
China grants more subsidies to soy farmers as it cuts corn stocks.
Malaysia palm oil up on demand ahead of Ramzan
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives rose on expectations of a rise in demand ahead of Ramzan in May. The prices of crude palm oil and soyoil typically move in tandem as the commodities are used as substitutes for each other. The decline in palm oil inventories in Malaysia by 12% on-month to 2.18 mln tn in March.
China tilts farm subsidies to favour soybean, cut corn production.
China tilts farm subsidies to favour soybean, cut corn production.
China’s impose 25% tariff on import of oilseed from US
Futures contracts of components of edible oil basket on domestic exchanges are likely to tick lower in the next five sessions primarily due to China’s decision to impose 25% tariff on import of oilseed from the US. China is the largest consumer of US soybean.
Farm contracts fall as China slaps retaliatory tariff on US soy, corn.
Farm contracts fall as China slaps retaliatory tariff on US soy, corn.
Pakistan increased demand for soybean meal in poultry feed rations
Pakistan increased demand for soybean meal in poultry feed rations. The poultry industry in Pakistan is increasingly using soybean meal in its feed rations, and the USDA is expecting the country’s soybean imports to hit a record 2.5 million metric tons (MMT) in MY 2018/2019. Pakistan imported 1.7m tons of soybeans during MY 2016/17, according to the USDA data. Importers have shifted from Indian soymeal to take advantage of competitively-priced soybeans from other countries, said the US agency report. Rapeseed and canola imports are almost at and are expected to maintain at 2 million tons during 2017/18 and imports of soybeans are expected to climb to 2.0 MMT given the current tari structure. Soybean imports during MY 2018/19 are projected to reach to a record 2.5.