NCDEX soybean gives up earlier gains on weak demand
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean gave up earlier gains on the NCDEX and fell due to weak buying in spot markets. Soybean futures rose earlier after Finance Minister Arun Jaitley in the Union Budget for 2018-19 (Apr-Mar), announced that minimum support price for rabi and upcoming kharif crops will be 1.5 times higher than the cost of production. The most-active February contract was down 0.6% from previous close.

Rabobank cuts Argentina soy, corn production forecast
Ram Gopal Yadav (8 years ago)

Dutch bank Rabobank cut its forecast for Argentine corn production by 2 million mt to 39 million mt on Tuesday, with its soybean forecast also falling to 51.5 million mt, making the bank’s analysts some of the most pessimistic in the market. Persistent dry conditions during pollination across Argentina have impacted the early planted corn crop, which has led to the write down in production. The bank’s production estimate is now 3 million mt lower than USDA forecasts and lower than almost all other analysts.

Oilseed stocks in Kazakhstan reached 1.5 MMT by early 2018
Ram Gopal Yadav (8 years ago)

The Statistics Committee of the National Economy Ministry of the Republic of Kazakhstan reports that oilseed stocks totaled 1,495.9 KMT as of January 1, 2018, or 30% more (+346 KMT) than as of January 1, 2017 (1,149.9 KMT). A rise was registered in stocks of all main oilseeds. So, sunseed availabilities gained a quarter against the previous year (up 123.5 KMT) and came to 609.2 KMT, linseed stocks increased by 28% to 473.7 KMT (up 103.6 KMT), soybean stocks were up 37% year-on-year (+36 KMT) at 134.3 KMT and rapeseed inventories rose by 56.3% (+71.4 KMT) to 198.2 KMT.

Mustard seed down in Jaipur on rise in arrivals
Ram Gopal Yadav (8 years ago)

Mustard seed was quoted lower in Jaipur due to a rise in arrivals amid subdued demand from stockists and oil millers after a recent surge in prices. Expectations of a decline in output of the oilseed in Rajasthan cushioned the fall in prices to some extent.

NCDEX mustard seed down tracking benchmark market
Ram Gopal Yadav (8 years ago)

Futures contracts of mustard seed on the NCDEX fell, tracking losses in the benchmark market of Jaipur. Prices of mustard seed fell in Jaipur due to a rise in arrivals amid subdued demand from domestic stockists and oil millers after a recent surge in prices. Expectations of a fall in output of the oilseed in Rajasthan, however, cushioned the fall in prices. The most active April contract on the NCDEX was down 30 rupees.

NCDEX soybean up on supply worries, short covering
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean rose on the NCDEX on concerns over a likely fall in arrivals in the coming days. The most active February contract was up 29 rupees. Talks of a hike in duty on the edible oil are also seen lifting prices.

NCDEX coriander hits 3% upper cap on bargain buying
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on NCDEX hit the 3% initial upper circuit because investors bought the commodity after prices fell to a one-week low. The most-active April contract of coriander on NCDEX traded at 5,914 rupees per 100 kg, up 2.7% from the previous close. Expectation of lower production in 2017-18 (Oct-Sep) as farmers shifted from coriander to jeera following attractive prices of the latter last year, also supported coriander futures.