Romanian farmers are getting more and more interested in oilseed crops, devoting less acreage to grain crops. Thus, in 2017/18 MY grain crop area (wheat, corn, barley) was 6% lower than 5-year average. In contrast, sowing area of oilseeds (rapeseed, sunseed, soybeans) is estimated at a new record, which is 31% higher than 5-year average. In 2017/18 major part in oilseed sowing area structure was traditionally given to sunseed. Still, 2017/18 season was marked with essential growth in area of other oilseed crops, soybeans area increased by 40% and rapeseed by 25%. In terms of exports, Romania is responsible for 42% in the total sunseed supplies to EU market (in 2016/17), which makes the country quite important market player in the bloc.
UP government to launch drive for e-procurement of paddy.
UP government to launch drive for e-procurement of paddy.
Argentina authorizes new herbicide-resistant GMO soybean seeds
Argentina authorized the use of genetically modified soybean seeds resistant to herbicides other than glyphosate, as the European Union (EU) debates whether to extend the license of weed-killers containing the ingredient. Argentina shipped 7.5 million tonnes of soybean meal to European countries in the first nine months of 2017. The country’s producers are expected to plant 16.8 million hectares of soybeans for the 2017-18 crop.
About 0.56 MMT paddy received in Chhattisgarh procurement centres so far.
About 0.56 MMT paddy received in Chhattisgarh procurement centres so far.
Soybean market eyes argentina’s weather
The market attention has been slowly shifting to South America, where a growing crop is just emerging, and planting is finishing up. Weather forecasts in South America are a bit wetter, especially in Argentina for the next 14 days. Now precip is forecast above normal in Argentina the next 7 days, with the 8-14 day forecast for more precip as well (closer to average rather than below average). That is slightly negative and is pressuring soybeans. Temps still forecast mostly normal across both Argentina and Brazil for the next 14 days, which keeps the forecast relatively non-threatening.
All-India cotton arrivals at 164,000 bales on 28 Nov.
All-India cotton arrivals at 164,000 bales on 28 Nov.
USDA sees record-high U.S. soy acres in 2018-19
U.S. farmers are likely to plant a record amount of land with soybeans in 2018 and also boost the area devoted to most other major crops.
MCX cotton up on likely fall in production estimate.
MCX cotton up on likely fall in production estimate.
Coriander prices up in Kota on likely fall in area
Prices of coriander were up in Kota–the benchmark market–because of a likely drop in acreage in the producing regions, this rabi season.The fall in area is due to unattractive prices for the crop last season.
India coffee exports during Jan 1- Nov 28.
India coffee exports during Jan 1- Nov 28.
NCDEX coriander contracts down on profit booking
Futures contracts of coriander on NCDEX were in the red because investors booked profits after prices hit a six-month high. The most-active December contract of coriander was down 0.6% from the previous close.
India maize rise in key spot markets post recent fall.
India maize rise in key spot markets post recent fall.
National Flour Mills head warns of increased flour prices if cost of wheat continues to rise.
National Flour Mills head warns of increased flour prices if cost of wheat continues to rise.
USDA corn crop 99% harvested in Northwest Iowa.
USDA corn crop 99% harvested in Northwest Iowa.
Govt sells 230,750 MT wheat via OMSS in Nov, up 76% on month.
Govt sells 230,750 MT wheat via OMSS in Nov, up 76% on month.
NCDEX wheat ends 1% down on weak demand; spot flat.
NCDEX wheat ends 1% down on weak demand; spot flat.
CBOT wheat up as US 2018-19 acreage seen falling.
CBOT wheat up as US 2018-19 acreage seen falling.
India wheat strengthens on increased offtake by flour mills.
India wheat strengthens on increased offtake by flour mills.
Japan offers to buy 151,853 MT food wheat via tender.
Japan offers to buy 151,853 MT food wheat via tender.
NCDEX soybean down on CBOT cues, ample supply
Futures contracts of soybean extended losses on NCDEX tracking a fall in the soybean and soyoil contracts on the CBOT. The most active December contract of soybean on NCDEX traded down 0.5% from the previous close. Soy contracts on CBOT fell due to easing of concerns over dry weather in major producer Argentina.