USDA raises world 2017-18 oilseed output estimate to 578.8 mln tn.
Ram Gopal Yadav (8 years ago)

The US Department of Agriculture has raised its estimate for global oilseed output in 2017-18 to 578.82 mln tn from 576.99 mln tn projected in October. The department has raised its forecast for global soybean output to 348.89 mln tn, up by 101,000 tn from the previous month forecast. The agency has estimated Brazil soybean output at 108 mln tn, up by 1 mln tn, due to a rise in area under the crop in the hrowing areas Parana and Rio Grande do Sul. Soybean production in the US, one of the major growers of the oilseed, however, is seen slightly lower at 120.44 mln tn, against the October forecast of 120.58 mln tn.

India Soybean, mustard down; CPO, soyoil rise marginally.
Ram Gopal Yadav (8 years ago)

Futures contracts of components in the edible oil basket traded mixed, with refined soyoil and crude palm oil contracts rising marginally on domestic exchanges. Futures contracts of soybean ended nearly 1% lower on the National Commodity and Derivatives Exchange, taking cues from the spot markets where tepid demand from bulk buyers kept prices subdued. Prices of the oilseed had risen in the past sessions on expectations of a hike in import duty on edible oils, which weighed on demand. On the NCDEX, soyoil contracts were up 0.2% from the previous close. Mustard contracts on the NCDEX fell by 0.6% tracking spot markets and due to lacklustre demand from oil millers and mustard meal exporters.

NAFED procures 76,969 metric tonne groundnut in shell
Ram Gopal Yadav (8 years ago)

The National Agricultural Cooperative Marketing Federation of India, under the price support scheme, has procured 76,969 metric tonne of groundnut in shell in Gujarat and Rajasthan. NAFED procured the crop from growers as market prices fell below the minimum support price of 4,450 rupees per 100 kg, inclusive of a bonus of 200 rupees.

China to buy another 12 million T of U.S. soybeans in 2017/18 in $5 billion deals
Ram Gopal Yadav (8 years ago)

The United States soybean industry has signed two letters of intent with Chinese importers covering a $5 billion purchase of an additional 12 million tonnes of soybeans in the 2017/18 marketing year. In the first agreement, signed on Nov. 8, it intended to purchase 8 million tonnes of U.S. soybeans worth $3.4 billion. A second agreement signed between grains trader ADM and China’s COFCO for intent to purchase 4 million tonnes of soybeans worth $1.6 billion.

3% of sunseed is left to be harvested in Ukraine
Ram Gopal Yadav (8 years ago)

Sunseed was harvested from 5773 Th ha (97% of the projected 5942 Th ha) with a crop of 11409 KMT and a yield of 1.98 MT/ha. At the same time, farmers harvested soybeans from 1808 Th ha out of the projected 1990.2 Th ha. The crop was 3442 KMT with a yield of 1.90 MT/ha (down 14.7% year-on-year).

Malaysian palm oil futures fell.
Ram Gopal Yadav (8 years ago)

Malaysian palm oil futures fell in the second half of trade, dropping from a one-week high earlier in the session on expectations of weaker cargo surveyor export data scheduled for release on Friday.