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.
India basmati shipments may rise as Iran recommences rice imports.
India basmati shipments may rise as Iran recommences rice imports.
NCDEX coriander hits 3% upper cap on bargain buying
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.
International Rice Research Institute completes genome sequencing of 7 wild rice varieties.
International Rice Research Institute completes genome sequencing of 7 wild rice varieties.
CBOT corn prices gained 2% supported by weather and currency factors.
CBOT corn prices gained 2% supported by weather and currency factors.
China to cut 2018 rice acreage by 2.2% amid bulging stocks
China to cut 2018 rice acreage by 2.2% amid bulging stocks
Zimbabwe govt assures nation of adequate maize amid drought fears.
Zimbabwe govt assures nation of adequate maize amid drought fears.
ICE reverts cotton price limit to 3 cents/pound
ICE reverts cotton price limit to 3 cents/pound
Turkey switches from corn to cotton.
Turkey switches from corn to cotton.
NCDEX cotton oilcake up on short covering; spot unchanged.
NCDEX cotton oilcake up on short covering; spot unchanged.
Argentina soy yields to fall 13%.
Argentinian production of soybean is to hit a five-year low of 52 million mt in the 2017/18 crop year, as yields are expected to fall to 13% to 2.9 tonnes per hectare. A lack of rainfall over the past two months has been the main reason for the yield write-down, which will see production fall 9% below the previous crop year and 8% on the previous five-year average. The board expects the planting area to be 18.5 million hectares, although that figure is down on the 18.8 million hectares that were expected to be planted due to a lack of rain. The damaging effect of the moisture deficit is not limited to the smaller area planted, but the emergence of seedlings in these conditions have already forced us to discount potential yields in the new campaign.
NCDEX coriander falls 2% on high carryover stocks
Futures contracts of coriander on NCDEX today fell over 2% due to higher carryover stocks from last season and expectations of a rise in arrivals of the new crop from February. The most active April contract of coriander on NCDEX traded at 5,756 rupees per 100 kg, down 2.3% from the previous close. Lower arrivals prevented prices from falling amid anticipation of a rise in supply soon.
Heavy rains not seen slowing Brazilian winter corn.
Heavy rains not seen slowing Brazilian winter corn.
Mexico corn production estimate climbs, imports cut.
Mexico corn production estimate climbs, imports cut.
CBOT wheat hits 4-month high on US crop damage concerns.
CBOT wheat hits 4-month high on US crop damage concerns.
India wheat futures soften by 0.24% on ample stocks.
India wheat futures soften by 0.24% on ample stocks.
Philippines importing Ukrainian wheat at a record pace.
Philippines importing Ukrainian wheat at a record pace.
Russian wheat export prices on the rise.
Russian wheat export prices on the rise.
European Commission lowers basmati fungicide tricyclazole’s tolerance limit to 0.001 ppm.
European Commission lowers basmati fungicide tricyclazole’s tolerance limit to 0.001 ppm.
Higher price hits demand for soybean in Indore
Prices of soybean in Indore, Madhya Pradesh fell as demand from domestic oil millers. A rise in arrivals also put pressure on soybean prices. Supplies have increased because farmers have offloaded more to avail better prices.