NCDEX soybean down on profit booking, CBOT cues
Ram Gopal Yadav (9 years ago)

Futures contract of soybean on NCDEX fell as investors booked profits after the government failed to announce the much expected incentives for export of soybean products. The market had widely expected the government to increase the incentive given to soybean cake exporters in the form of export credit to 10% from the current 7.5% to encourage exports and boost domestic prices. Fall in soybean contracts on CBOT also weighed on domestic prices. The most-active March contract of soybean on NCDEX traded down 1% from previous close.

Indonesia increases use of soy in feed
Ram Gopal Yadav (9 years ago)

Indonesia is increasing its use of soybeans for feed in part because of the corn import ban that has made corn prices among the highest in the world. The estimate of soybean for feed use in 2016-17 was revised up to 150,000 tonnes and for 2017-18 it was revised to 160,000 tonnes.

Soybeans climb to seven-month top on Argentina dryness
Ram Gopal Yadav (9 years ago)

Chicago soybean futures rose to a seven-month high with the market climbing for five out of six sessions, buoyed by poor rains over the weekend in Argentina’s drought-hit oilseed growing areas. The most-active soybean contract on the Chicago Board Of Trade added 0.9 percent to $10.30-3/4 a bushel. The drought afflicting Argentina since November has shrivelled soybean yields to the point that analysts and farmers have slashed harvest estimates by about 10 million tonnes, with final crop forecasts consolidating under the 50 million tonne mark.

NCDEX coriander hits 5-week low on supply pressure
Ram Gopal Yadav (9 years ago)

Futures contracts of coriander on NCDEX extended losses and hit a five-week low of 5,415 rupees per 100 kg because of increasing pressure of new crop arrivals. The most active April contract of coriander on NCDEX ended at 5,422 rupees per 100 kg, down 1.1% from the previous close. Weak demand from domestic retailers and exporters also weighed on prices.