UP sugar mills delay cane crushing as molasses stocks pile up
Ram Gopal Yadav (9 years ago)

Sugar mills in up have delayed cane crushing as they are sitting on large stock of molasses. At the beginning of the month, mills were carrying around 10 million litre molasses stock with them posing a problem of storage as the new crushing season result in more addition to the existing inventory.

Brazil boosts ethanol output, cuts cane used for sugar
Ram Gopal Yadav (9 years ago)

Brazilian mills increased the amount of cane used for ethanol production in the first half of October, and reduced sugar output, taking advantage of better pricing for the biofuel as sugar prices remain weak. Mills in the center-south region, increased the amount of cane they used to produce ethanol to 56 percent in the first half of this month from 53 percent late in September and compared with 50 percent early in October last year. Sugar production of 1.97 million tonnes in the first half of October was 12.2 percent lower than in the same period a year earlier, while ethanol output of 1.57 billion liters was 11.6 percent up.

CBOT soybean up on short covering after 2-week low.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean were up on the CBOT as investors covered their short positions after the contracts hit a near two-week low of $9.7275 per bushel. The contracts fell after the USDA, in its weekly crop progress and conditions report said as of Oct 22, 70% of the US soybean crop across select states was harvested, compared with 49% a week ago. The most-active November contract of soybean on the CBOT was at $9.83 per bushel, up 0.8% from the previous close.

India NCDEX mustard hits 7-month high as govt hikes MSP.
Ram Gopal Yadav (9 years ago)

The November contract of mustard on the National Commodity and Derivatives Exchange touched a nearly seven-month high due to a rise in minimum support price. Futures contracts of mustard have largely been on a rise in the past couple of weeks and are likely to trade higher. In the long term too, prices of the oilseed are seen rising, supported by firm demand for mustard oil with the advent of winters.

Indonesia unlikely to impose export duty on palm oil in November.
Ram Gopal Yadav (9 years ago)

The Indonesian government is unlikely to impose an export duty on crude palm oil in November as the price of the vegetable oil in the global market remains low. The average price of crude palm oil over the last one month was relatively low at below the export duty threshold of $750 per metric tonne.