Maharashtra cotton procurement unlikely till mid-Nov on arrival lag .
India edible oil All down except mustard; soy 1% lower tailing CBOT
Futures contracts of all edible oils, barring mustard, traded lower on domestic exchanges, in line with international markets. Futures contracts of soybean fell around 1% on the NCDEX, tracking weakness in key contracts on the CBOT.
USDA arm sees Argentina 2017-18 soybean crop tad down at 57 million metric tonne
Argentina soybean crop is seen at 57 million metric tonne in 2017-18 (Apr-Mar), down 1.4% on year. Argentina produced 57.8 million metric tonne of the oilseed in 2016-17. The fall in production is attributed to excess rains during Aug-Sep that not only affected winter crop, but is also expected to delay the sowing of soybean now.
MMTC to auction 4,492 metric tonne masoor via NCDEX e-markets
MMTC offer 4,491.50 metric tonne of masoor imported from Canada, 2,665 metric tonne of tur imported from Malawi and Mozambique and 2,633.50 metric tonne of urad imported from Myanmar, for auction through NCDEX e-markets. Pulses, to be auctioned, are stocked at Central Warehousing Corp and other godowns in Tamil Nadu, Gujarat, and Maharashtra.
Farmers’ body to auction moong via NCDEX e-markets
Small Farmers’ Agribusiness Consortium offer 495.77 metric tonne of moong for auction through NCDEX e-Markets. The pulse is stocked at Central Warehousing Corp and other godowns in Rajasthan, Madhya Pradesh and Telangana.
Farm agency raises forecast for ’17-18 average chana price in Canada
Agriculture and Agri-Food Canada has raised its forecast for prices of chana in the country to an average $1,100-$1,130 a metric tonne in 2017-18 (Aug-Jul) from its September estimate of $1,000-$1,030 due to strong global demand. Canada’s farm agency has revised upwards its price forecast despite reports of likely higher sowing of the pulse in India. The agency has forecast production of chana in Canada at 81,000 metric tonne in 2017-18, unchanged from its previous estimate but a tad lower than last year’s output of 82,000 metric tonne. Supply of chana, or chickpeas, is expected to decline by 26% on year to 96,000 metric tonne due to lower carry-in stocks and imports. The agency, however, has lowered its average price estimate for lentils to $650-$680 per metric tonne from its September estimate of $720-$750.
Punjab (in Pakistan) govt sets wheat cultivation target at 16.4 million acre.
Punjab (in Pakistan) govt sets wheat cultivation target at 16.4 million acre.
Winter wheat planting in Kazakhstan hampered by precipitation.
Winter wheat planting in Kazakhstan hampered by precipitation.
Algeria bought 660,000 MT wheat in tender.
Algeria bought 660,000 MT wheat in tender.
Ethiopia seeking foreign wheat.
Ethiopia seeking foreign wheat.
Basmati farmers in Punjab & Haryana rake it in.
Basmati farmers in Punjab & Haryana rake it in.
Sugar mills hoping for recovery in ethanol blending with petrol this year.
After slowing down to a mere 2.5 per cent last year, sugar mills are hoping for a recovery in ethanol blending with petrol this year, due to a significant increase in cane output and thereby proportionate improvement in the availability of extra-neutral of alcohol (ENA). ENA is a derivative of sugar manufacturing and a pre-form of ethanol.
India coffee exports during Jan 1- Oct 13 .
India coffee exports during Jan 1- Oct 13 .
SEA sees Gujarat 2017-18 kharif groundnut crop at record 3.15 metric tonne.
Output of the oilseed in the state for kharif season is estimated to be higher because of adequate and timely rainfall with no reports of crop disease. Output of groundnut in the state in 2016-17 kharif was also at a high of 2.94 metric tonne. Output of groundnut in the state in 2016-17 kharif was also at a high of 2.94 metric tonne. Meanwhile, carryover stocks of the oilseed as of September end are estimated at around 160,000 metric tonne. The association also sees lower export of groundnut seed and oil in Oct-Sep because of disparity in the international market.
South Korea’s NOFI tenders for barley.
South Korea’s NOFI tenders for barley.
Soybean down on CBOT after hitting 3-mo-high.
Futures contracts of soybean on CBOT were down in electronic trade after hitting three-month high of $10.0325 a bushel. The fall in prices of the oilseed were due to strength in the dollar against the euro. The most-active November contract of soybean on CBOT was at $9.9475 per bushel, down 0.6%.
Romania top EU exporter of barley to third countries at start of 2017/18.
Romania top EU exporter of barley to third countries at start of 2017/18.
Farm minister says rabi pulses output may offset drop in kharif crop.
Production of rabi pulses in India is expected to offset the fall in output during the kharif season. In its first advance estimate for 2017-18 (Jul-Jun), the government pegged kharif pulses production at 8.71 metric tonne, down 7.5% on year. Last year, we produced around 6.5 metric tonne more pulses. If pulses in the Kharif (this year) somehow lagged, we may try to compensate it in rabi season. In 2016-17, India produced 22.95 metric tonne of pulses, higher than 16.35 metric tonne the previous year.
NAFED procures 7,394 metric tonne of kharif moong in 3 states.
The National Agricultural Cooperative Marketing Federation of India has procured 7,394 metric tonne of moong grown in the kharif season under the price support scheme in Telangana, Karnataka and Rajasthan. Over 6,000 farmers have been benefitted from the procurement drive that started mid September in Telangana, and later extended to Karnataka and Rajasthan. NAFED started procuring moong as market prices fell below the minimum support price of 5,575 rupees per 100 kg, inclusive of a bonus.
NAFED procures 5,340 metric tonne of kharif urad in 3 states.
The National Agricultural Cooperative Marketing Federation of India has procured 5,340 metric tonne of urad grown during the kharif season in three states. The procurement under the price support scheme started last month and was underway in Rajasthan, Telangana and Karnataka. Rajasthan accounted for the maximum procurement at 4,292 metric tonne. Over 4,700 farmers have sold their crop to the agency. NAFED started procuring urad as market prices fell below the minimum support price of 5,400 rupees per 100 kg, inclusive of a bonus.