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.

Mustard seed up in Jaipur on demand from oil mills.
Ram Gopal Yadav (9 years ago)

Mustard seed prices were up in Jaipur, Rajasthan owing to improved demand from domestic oil millers and crushers. A fall in arrivals and seasonal demand for mustard oil also supported seed prices. Delayed sowing in key growing areas and export demand for mustard meal further lifted prices in domestic market.

Muted demand drags down coriander futures 1.72%.
Ram Gopal Yadav (9 years ago)

Coriander prices fell by 1.72 per cent in futures market as participants cut down positions amid muted domestic and export demand against ample stocks position. Besides, higher supplies from major growing regions influenced coriander futures. The fall in coriander futures to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.

NCDEX mustard down as stocks at warehouses rise
Ram Gopal Yadav (9 years ago)

Futures contracts of mustard seed were down on the NCDEX due to a rise in stocks of the oilseed at exchange-accredited warehouses. The most-active December contract was down 0.6%, on NCDEX. Stocks of mustard seed at the warehouses were at 2,608 tn compared with 1,566 tn a week ago.

NAFED buys 22,213 tn soybean in 3 states
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 22,213 tn of kharif soybean in Rajasthan, Telangana, and Maharashtra. NAFED started procuring soybean under the price support scheme as market price of the commodity fell below the minimum support price of 3,050 rupees per 100 kg, inclusive of a bonus of 200 rupees. Over 12,500 farmers have gained from the procurement that began in early October.