Harvest of samba paddy begins in Tiruchi district.
Madhya Pradesh cuts 2017-18 soy crop view to 5.3 mln tn
Madhya Pradesh has lowered its estimate for soybean production in 2017-18 (Jul-Jun) to 5.3 mln tn from 6.9 mln tn projected in the first advanced estimate. A downward revision in soybean production was mainly due to a dry spell during the growth stage that adversely affected the yield. Soybean yield declined substantially to 1,062 kg per ha compared with 1,231 kg in 2016-17.
NCDEX soybean up 3% on firm demand from oil millers
Soybean futures on NCDEX hit 3% upper limit due to firm demand for the oilseed from millers and stagnant arrivals. The most active February soybean contract on NCDEX traded at 3,653 rupees per 100 kg, up 3% from the previous close. All-India arrivals of the oilseed were, however, estimated to be steady at 200,000 bags (1 bag = 100 kg). Downward revision of soybean production in Madhya Pradesh in 2017-18 (Jul-Jun) at 5.3 mln tn against 6.9 mln tn estimated in the first advance estimate is seen supporting prices of the oilseed.
Rabi crops to gain as cold wave slated to continue for two days
The rain spell on Tuesday over the northern plains leading to drop in temperatures and cold weather conditions would benefit standing rabi crop, especially wheat, gram and mustard. The weather office has forecast cold wave conditions to continue over Punjab, Haryana, west UP and north Rajasthan for the next two days. It is especially beneficial for wheat, gram, mustard and other rabi crops.Overall the acreage is down for oilseed, but if the rains in January and February are good then we can make up in yields. Mustard requires 2-3 spells of rain and the current spell will be beneficial
CBOT soybean down on profit booking post 6-wk high
The March contract of soybean on CBOT fell as investors booked profits after prices hit an over six-week high of $9.8875 per bushel. The most-active March contract of soybean on the Chicago bourse was at $9.8475 per bushel, down 0.2% from the previous close. Prices of soybean on CBOT rose for the last eight trading days due to concerns over prevailing dry weather in Argentina.
Ukraine’s rapeseed market looking to the new season with optimism
Rapeseed is now becoming once again a topical subject for the oilseed sector of agriculture. Remarkably, this involves not only forecasts for the next season 2018/19, but also expectations about the results of the current marketing year. Seemingly, the most active part of MY 2017/18 for the rapeseed market is already over and its final results can be stated with high probability, but the current season’s trends make us adjust the supply and demand balance for this oilseed. The brisk pace of rapeseed exports seen in the first half of MY 2017/18 suggests that Ukraine will ship abroad up 1045 KMT from MY 2016/17. So, it is going to hit a four-year high.
EU approved a plan to ban the use of palm oil in biofuel production
The EU law makers approved a plan for reforming the energy market in order to reduce energy consumption and prevent climate change. The plan includes a ban on the use of palm oil in transport fuel production from 2021.
Andhra Pradesh CM directs officials to provide MSP for paddy.
Andhra Pradesh CM directs officials to provide MSP for paddy.
Bayer launches new pest tolerant rice hybrid seed Arize AZ 8433 DT.
Bayer launches new pest tolerant rice hybrid seed Arize AZ 8433 DT.
US gives safety approval to China genetically modified rice strain.
US gives safety approval to China genetically modified rice strain.
Philippines Q1 rice output up 5.7% to 4.67 MMT.
Philippines Q1 rice output up 5.7% to 4.67 MMT.
India wheat output likely to be lower by 2% to 96.1mt in 2017-18; says sources.
India wheat output likely to be lower by 2% to 96.1mt in 2017-18; says sources.
European Union stepping up wheat imports from Kazakhstan
European Union stepping up wheat imports from Kazakhstan
Russia Expands Global Reach of Wheat Sales With Surge in Sudan.
Russia Expands Global Reach of Wheat Sales With Surge in Sudan.
NCDEX wheat down as harvest season nears, supply up.
NCDEX wheat down as harvest season nears, supply up.
Japan offers to buy 84,577 tonnes of food wheat via tender.
Japan offers to buy 84,577 tonnes of food wheat via tender.
Belarus decreased rapeseed imports 21% to 4.2 KMT
According to the National Statistics Committee of the Republic of Belarus, soybean imports grew to 106 KMT in the first 11 months of 2017 that is up 51% year-on-year. Rapeseed supplies decreased 21% to 4.2 KMT. At the time, the key soybean exporter to the country was Ukraine (106 KMT), while the rapeseed was supplied mostly by Russia (3.9 KMT).
India coffee exports during Jan 1 – Jan 19.
India coffee exports during Jan 1 – Jan 19.
NCDEX coriander up over 2% on low output concern
Futures contracts of coriander rose over 2% on the NCDEX because of concern over a decline in production in 2017-18 (Oct-Sep), aided by lower arrivals. The most-active April contract traded at 5,940 rupees per 100 kg, up 1.6% from the previous close.
New coriander crop makes way into Gujarat mkts; supply at 450 bags
Arrivals of the new coriander crop have started in the spot markets of Rajkot, a key market in Gujarat, since last week, with daily supply at 450-500 bags (1 bag = 40 kg). Arrivals are coming from Gondal and Junagadh regions in Gujarat and there is around 20-25% of moisture content in the new crop. As of now, demand for the new crop is low as moisture content is more than the ideal level of 7-8%. Expect demand to rise in the coming days, when moisture content will decline, adding that prices may then rise to 5,250 rupees a 100 kg.