Rains to help corn planting in Argentina grains belt.
Ukraine November’s rape oil output hit a four-year low
Rape oil production by Ukraine’s large and medium-sized crushers fell to a four-year low of 0.131 KMT in November 2017. Nonetheless, the results of the first five months of MY 2017/18 are 33.8% higher than a year ago: 79.1 KMT against 59.1 KMT, respectively.
Telangana farmers told to check disease in groundnut.
IMD’s Agrimet has advised farmers in Telangana to spray insecticides on the groundnut crop to control the spread of stem rot disease. The disease causes severe seedling mortality resulting in patchy crop in sandy loam soils and reduces the yields by around 30%. The current weather in the state helps spread this disease in the groundnut crop. The state is among the major growers of rabi groundnut in the country.
NCDEX mustard gains on short covering post 2-mo low
The January contract of mustard seed rose on the NCDEX as investors covered their short positions after prices hit a near-two-month low. The January contract was at 3,961 rupees per 100 kg, up 0.5% from the previous close. Prices had fallen in the past two trading days due to lacklustre demand from oil millers. Lower mustard acreage this year further supported prices of the oilseed.
Malaysia CPO ends lower on CBOT cues, firm ringgit
Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower, tracking losses in soyoil contracts on CBOT. Prices of crude palm oil and soyoil typically move in tandem, as both are used as substitutes for each other. A strong ringgit against the dollar further weighed on crude palm oil prices on the Malaysian bourse. Firmness in the Malaysian currency makes the commodity more expensive for buyers holding other currencies. The most-active March contract of crude palm oil on the Malaysian bourse closed at 2,520 ringgits (39,723.01 rupees) per tn, down 0.7% from the previous close.
NCDEX coriander up on short covering, low arrivals
The January contract of coriander on NCDEX was up over 1% as investors covered their short positions after it hit a one-week low. A 760-tn decline in open interest in the contract to 34,440 tn indicated short covering. The most-active January contract on NCDEX traded at 5,535 rupees, up 1.2% from previous close.
EU is ready to buy large volume of Ukrainian corn.
EU is ready to buy large volume of Ukrainian corn.
EU wheat knocked down by strong euro despite firm U.S. markets.
EU wheat knocked down by strong euro despite firm U.S. markets.
Wheat edges lower, losses checked by concerns for U.S. crop
Wheat edges lower, losses checked by concerns for U.S. crop
Tamilnadu agriculture dept. issues advisory to farmers on rice blast disease
Tamilnadu agriculture dept. issues advisory to farmers on rice blast disease
About 10,000 hectare of paddy crop affected due to unseasonal rains in Odisha.
About 10,000 hectare of paddy crop affected due to unseasonal rains in Odisha.
Vietnam rice exports beat low expectations in 2017.
Vietnam rice exports beat low expectations in 2017.
Japan considering imports of U.S. corn-based ethanol.
Japan considering imports of U.S. corn-based ethanol.
Rice output in Philippines projected to rise in 2017-18.
Rice output in Philippines projected to rise in 2017-18.
Ukraine sunseed stocks down 11.5% year-on-year
Sunseed stocks in Ukraine totaled 6737.2 KMT as of December 1, 2017, or 11.5% less than at the same time last year (7608.5 KMT). This included 3604.4 KMT held directly on the farms (-571.3 KMT, or down 13.7% from the same date in 2016) and 3132.8 KMT held at storage and processing companies (-300 KMT, or down 8.7% year-on-year).
Soybeans rise on dry weather in Argentina
U.S. Chicago soybean futures rose for a third consecutive session, with the market trading near its highest in almost two weeks on concerns over dry weather in Argentina. The most-active soybean contract on the Chicago Board of Trade gained 0.3 percent to $9.73-3/4 a bushel. Soybeans drew support as a dry weather pattern lingered in Argentina, reducing yield potential in the No.3 global soy supplier behind the United States and Brazil. Rainfall over the weekend in much of Argentina’s main soy and corn areas improve soil moisture, analysts said, though fields in some parts of the country could remain dry.
Coriander futures fall 1.87% on sluggish demand
Coriander prices fell 1.87 per cent to Rs 5,501 a quintal in futures market as participants cut bets amid muted domestic and export demand against ample stocks position. Profit-booking at higher levels also weighed on traders’ sentiment. At National Commodity and Derivatives Exchange, coriander futures prices for delivery in January declined by Rs 105, or 1.87 per cent, to Rs 5,501 per quintal, with an open interest of 35,550 lots.
US soybeans for the week that ended 12/21 came in at 1.283 MMT
That dropped 28.43% from last week and is 25.42% lower than this time last year. Chinese imports of soybeans totaled 8.684 MMT during November, which is 10.83% larger than November 2016. Imports from the US picked up to 4.662 MMT, which still lags a year ago by 17.01%, while imports from Brazil came in at 2.76 MMT, well above last year.
Oilseeds have been the worst hit crop in the current kharif season
Occurrence of heavy rains in the initial sowing stages and moisture stressed situation in the later stages has led to significant decline in production. Production of soybean is seen declining to 10.5 mln tn from 14.2 mln tn. Groundnut production is seen falling 9.9% on year to 5.9 mln tn. The first estimate in September had pegged output for the oilseed lower at 5.7 mln tn.
Soybean tad up in Indore on lower supplies.
Prices of soybean in Indore rose slightly because of expectations of lower supplies. Gains in soybean contracts on the CBOT are also seen supporting prices in the spot market.