NCDEX soybean contracts up 1% on bargain buying.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean rose nearly 1% on NCDEX on bargain buying as prices fell over 3% in the last two trading sessions. the most-active December soybean contract was up 0.7% from previous close. Prices had declined in the previous sessions due to rising arrivals in the spot markets.

Malaysia CPO ends marginally up on bargain buying.
Ram Gopal Yadav (9 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended slightly higher due to bargain buying, after prices hit a near two-week low of 2,772 ringgits (42,648.72 rupees) per metric tonne earlier. Crude palm oil contracts on the Malaysian bourse rose also taking cues from soyoil contracts on the CBOT. A strong ringgit against the dollar, however, capped the gains. The most active January contract of crude palm oil on the Malaysian bourse ended at 2,785 ringgits per metric tonne, up 0.1% from the previous close.

Farmers in Andhra asked to take up groundnut sowing
Ram Gopal Yadav (9 years ago)

IMD’s Agrimet has advised farmers in Andhra Pradesh to take up sowing of groundnut in the ongoing rabi season. The department has suggested seed varieties like Dharani, Narayanai, K6, K7 and K8 Bold, Kadiri Amaravathi, Bheema, TCGS-1157 for groundnut sowing in the state.

India Soybean up 1%, shakes off losses from last session
Ram Gopal Yadav (9 years ago)

Futures contracts of items in the edible oil basket, barring mustard, rose on domestic exchanges due to firm demand in spot markets. Soybean closed nearly 1% higher on the National Commodity and Derivatives Exchange, shrugging off losses from previous session, owing to recovery in demand from crushing plants and a surge in exports of soymeal. Bargain buying after prices fell over 3% in the last two trading sessions pushed the prices higher. The decline in prices was due to a rise in arrivals in the spot markets. India’s soymeal exports during October were at 47,219 metric tonne, up 50% on year, data from Solvent Extractors.

European Parliament environment committee voted to ban biofuels produced from palm oil
Ram Gopal Yadav (9 years ago)

None of the palm oil producing governments have yet made any statement in the European media about the EU plan to ban biofuels from palm oil. Members of the European Parliament environment committee voted on 23 October to ban biofuels produced from palm oil, as part of the revision of the Renewable Energy Directive. Malaysia Minister of Plantation Industries and Commodities stated clearly the EU approach was unacceptable and could lead to trade retaliation. In Brussels, calling for a ban on palm oil may be seen as a quaint pet project of a few MEPs. In Malaysia, it is seen as an existential threat to families and livelihoods.

Ukraine Rapeseed meal exports down 21% in July to September 2017/18
Ram Gopal Yadav (9 years ago)

Rapeseed meal exports from Ukraine totaled 21.3 KMT in September 2017 against 18.3 KMT in August 2017 and 23.3 KMT in September 2016. Overall, 42.8 KMT was supplied to foreign markets in July-September 2017/18, or 20.8% less than at the same time last year (54.1 KMT). The current season features active rapeseed exports (two and a half times more rapeseed was exported in the first three months of the season than a year ago). This affected rapeseed crushing and consequently reduced exportable stocks of rapeseed products, in particular rape meal. The traditional end markets shrink now, but the top importers remain unchanged: European countries and Israel 87% and 9% of total exports, respectively.

Russia Sun oil production up 18% year on year 3190.5 KMT.
Ram Gopal Yadav (9 years ago)

357.2 KMT of vegoils were made in Russia in September, or 13.8% more than in August, but 1.8% less than in September 2016. Overall vegoil production in Russia gained 11.2% in 2017. The country produced 3975.4 KMT of vegoils for the first nine months of the current year. This gain was accounted for primarily by expanding sunoil production in Russia. It totaled 3190.5 KMT in the period under review that is up 17.6% year-on-year (2713 KMT was produced in January-September 2016).

NAFED buys 25,568 metric tonne groundnuts in shell.
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India has procured 25,568 metric tonne of groundnut-in-shell in Gujarat and Rajasthan under the price support scheme. The procurement drive, which started late last month, is underway in eight procurement centres in Rajasthan and over 110 centres in Gujarat. NAFED started procuring 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.

Soybean prices down in Indore tracking fall on CBOT.
Ram Gopal Yadav (9 years ago)

Soybean prices in Indore down tracking weakness in CBOT contracts and on expectations of a rise in arrivals in the domestic market. In Madhya Pradesh, arrivals of soybean pegged at around 400,000 bags (1 bag = 100 kg) as against 350,000 bags. Soybean contracts declined because of selling by investors ahead of the global monthly supply-demand report by the US Department of Agriculture.

Fall in arrivals lifts mustard seed prices in Jaipur.
Ram Gopal Yadav (9 years ago)

Mustard seed prices up in Jaipur, Rajasthan, due to a fall in arrivals coupled with renewed demand from domestic oil millers and crushers. Arrivals in Rajasthan estimated at 50,000 bags (1 bag = 85 kg) compared with 60,000 bags. Expectation of a hike in import duty on edible oils further supported mustard seed prices