USDA arm sees Malaysia 2017-18 palm oil output at 21 million metric tonne, up 7.7%.
Ram Gopal Yadav (8 years ago)

Malaysia palm oil production is seen at 21 million metric tonne in 2017-18 marketing year, up 7.7% on year. Malaysia, the world’s second largest grower of the edible oil, produced 19.5 million metric tonne palm oil in 2016-17 (Oct-Sep). Area under oil palm trees is seen rising to 5.2 million ha in 2017-18 from 4.9 million ha a year ago. Palm oil exports from Malaysia are projected at 18 million metric tonne this year, up from 17 million metric tonne in 2016-17. Total supply of the tropical oil for 2017-18 is seen at 22.73 million metric tonne, higher than 21.85 million metric tonne the previous year. Malaysian Palm Oil Board, however, has estimated 18.9 million metric tonne productions of the tropical oil against the USDA arm’s estimate of 19.5 million metric tonne for the year ended September.

NCDEX coriander down 3% on profit booking; spot unchanged.
Ram Gopal Yadav (8 years ago)

The futures contracts of coriander on NCDEX were down nearly 3% as investors booked profits. The most active November contract on NCDEX ended down 2.7% from the previous close. The prices are expected to rise again as the fundamental sentiment is bullish for coriander due to expectations of lower acreage this rabi season.

Mustard seed down in Jaipur on subdued local buys.
Ram Gopal Yadav (8 years ago)

Prices of mustard seed fell in Jaipur because of subdued demand from domestic stockists after a near two-month high. A rise in arrivals also weighed on mustard seed prices. Supplies have increased because farmers have offloaded more of their produce in order to avail of the higher prices.

NCDEX soybean at 4-month low on high supply in spot.
Ram Gopal Yadav (8 years ago)

The November futures contracts of soybean on NCDEX hit a four-month low due to heavy supply in the key wholesale markets of the country as the harvest draws to a close. December contract of soybean on NCDEX was down 0.5% from previous close.

Madhya Pradesh pegs 2017-18 soy output 7 million metric tonne, down 2%.
Ram Gopal Yadav (8 years ago)

Madhya Pradesh expects its 2017-18 (Jul-Jun) soybean output to fall 1.9% to 6.94 million metric tonne. A fall in area resulted in lower soybean crop in Madhya Pradesh this year. Area under soybean is pegged at 5.01 million ha this year lower than 5.40 million ha in 2016-17. The state expect soybean yield to rise to 1,385 kg per ha, from 1,310 kg last year.

CBOT soybean up due to delayed planting in Brazil.
Ram Gopal Yadav (8 years ago)

Futures contracts of soybean rose on CBOT due to concerns over delay in planting in Brazil and Argentina. The delay has been caused due to prevailing dry weather in the region. Brazil and Argentina are the world’s second and third largest producers of soybean, respectively, after the US. The most-active January contract of soybean on the CBOT was at $9.92 per bushel, up 0.6% from the previous close.