NCDEX soybean falls 1% on high arrivals in spot
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean on the NCDEX fell nearly 1% mainly because of high arrivals in major spot markets. The most active November contract of soybean on the NCDEX was down 0.6% from the previous close. However, expectations of a hike in import duty on edible oils restricted further losses.

Malaysia CPO ends lower on weak export data
Ram Gopal Yadav (9 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower due to a month-on-month decline in the country’s palm oil exports during Nov 1-15. Cargo surveyor Intertek Agri Services today estimated Malaysia’s palm oil exports during Nov 1-15 at 660,465 metric tonne, down 4.3% on month. The most-active January contract of crude palm oil on the Malaysian bourse closed at 2,712 ringgits (42,377.25 rupees) per metric tonne, down 0.2% from the previous close.

CBOT soybean up on bargain buying post 6-week low
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean on the CBOT rose in the electronic trade due to bargain buying after the contract hit its six-week low. The most-active January contract of soybean on the CBOT was at $9.6825 per bushel, up 0.1% from the previous close.

India Soybean futures fall 1%, mustard 0.7%.
Ram Gopal Yadav (9 years ago)

Futures contracts of all components in the edible oil basket declined on domestic exchanges as there was no fresh development on the anticipated hike in the import duty on oilseeds The industry had demanded a hike in import duty on edible oils to support the prices of home-grown oilseeds. Soybean on National Commodity and Derivatives Exchange ended around 1% lower because of higher arrivals of fresh crop in key mandis. India’s vegetable oil imports rose around 5% on year to 15.4 million metric tonne in the year-ended October. Palm oil imports rose marginally to 9.3 million metric tonne compared with 8.4 million metric tonne during the previous year.

USDA cut its forecast for the sunseed crop in Ukraine
Ram Gopal Yadav (9 years ago)

The USDA’s November report presented a raised forecast for Black Sea rapeseed production in the 2017/18 season. In November, the sunseed crop estimate for Ukraine was slashed to 13000 KMT (down 500 KMT). The USDA predicts the Black Sea countries to harvest a total 26900 KMT of this oilseed. The region’s rapeseed production expand due to a larger harvest in Russia, which is to reach 1500 KMT (up 100 KMT). The total rapeseed crop in the Black Sea region is estimated at 4225 KMT. The forecast for Black Sea soybean production was left unchanged at 7785 KMT.