India Edible Oil: Down; mustard ends lower on lukewarm spot demand
Ram Gopal Yadav (8 years ago)

Futures contracts of all components of the edible oil basket declined on the domestic exchanges.Shrugging off gains from the previous session, April contract of mustard settled 0.6% lower on the National Commodity and Derivatives Exchange owing to tepid buying from oil millers. However, looming fears of a small crop this year due to adverse weather conditions restricted any sharp fall. Soybean on the NCDEX also closed 0.6% lower in line with weakness in the bellwether contracts on the Chicago Board of Trade. Refined soyoil on the NCDEX, and crude palm oil on the Multi Commodity Exchange of India, both traded 0.6% lower due to lacklustre demand at higher prices in the wholesale markets

Jaipur mustard seed up on higher demand from millers
Ram Gopal Yadav (8 years ago)

Prices of mustard seed were up in Jaipur because of higher demand from oil millers. Futures contracts of mustard seed on NCDEX, however, traded lower due to higher expiry stocks. The most-active April contract of mustard seed on NCDEX ended down 0.6% from the previous close. Higher volumes of expiry stocks for January delivery are seen creating bearish sentiment

Malaysia CPO ends over 2% lower on firm ringgit
Ram Gopal Yadav (8 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended over 2% lower today due to a strong ringgit against the dollar. A firm ringgit makes the commodity more expensive for buyers holding other currencies. The most-active March contract of the commodity on the Malaysian bourse settled at 2,567 ringgits (40,992.24 rupees) per tn, down 2.1% from the previous close. An on-month rise in Malaysia’s crude palm oil stocks in December further weighed on the prices.

Jaipur mustard seed down on poor demand; futures up
Ram Gopal Yadav (8 years ago)

Prices of mustard seed fell in the benchmark wholesale market of Jaipur in Rajasthan due to subdued demand for the oilseed from oil mills. Futures contracts of mustard seed on NCDEX, however, traded higher tracking gains in soybean contracts. The most-active April contract of mustard seed on NCDEX traded up 1% from the previous close.

Soybean up in Indore on firm demand, low arrivals
Ram Gopal Yadav (8 years ago)

Prices of soybean rose in Indore, the benchmark market for the commodity, due to good demand for the oilseed from crushers and lower arrivals.Prices of the oilseed is likely to rise further in the coming days due to shrinking arrivals. The most active February futures contract of soybean on NCDEX ended up 0.9% from previous close.

Malaysia CPO ends higher due to fall in Dec output
Ram Gopal Yadav (8 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended higher due to a month-on-month decline in the country’s production in December. Malaysia’s crude palm oil output in December fell 5.6% on month to 1.8 mln tn. The most-active March contract of crude palm oil on the Malaysian bourse settled at 2,621 ringgits (41,683.75 rupees) per tn, up 0.9% from the previous close. Higher stocks at the end of December, however, capped the gains. The southeast Asian country’s crude palm oil stocks at the end of December were at 1.7 mln tn, up 12.2% on month.

USDA arm sees 2017-18 Malaysia palm oil exports at 18 mln tn, up 6%
Ram Gopal Yadav (8 years ago)

Malaysia’s palm oil exports in 2017-18 (Oct-Sep) are estimated at 18 mln tn, up 5.9% on year. The USDA arm has pegged Malaysia’s total domestic consumption marginally higher at 3.19 mln tn, compared with 3.17 mln tn. “The increase is in line with population growth and marginal growth in biodiesel production for domestic consumption. Malaysia’s palm oil ending stocks in 2017-18 are estimated to fall to 1.5 mln tn from 1.7 mln tn a year ago.

China became the top importer of Russian soybean oil
Ram Gopal Yadav (8 years ago)

Russia exported 44 KMT of soybean oil in November 2017 that was the largest volume for this month. The shipments gained almost 48% against October and over 84% against November 2016. Overall, 2017/18 export statistics shows a 9% drop year-on-year. So, 114.9 KMT of soybean oil was exported in the first three months of the current season against 126.4 KMT at the same time last marketing year. In the current 2017/18 season, China replaced Algeria as the top importer of Russian soybean oil. Consequently, the Chinese share of the market expanded to 45%, while Algeria’s share shrank to 37%.

Ukraine palm oil imports hit a seven-year high
Ram Gopal Yadav (8 years ago)

Ukraine imported 28.8 KMT of palm oil in November 2017, or 88% more than in the previous month (15.3 KMT) and 51.6% more than in November 2016 (19 KMT). Palm oil imports to Ukraine hit a seven-year high of some 78 KMT in September-November 2017/18. This is up 43.7% from the same time last season (54.6 KMT).