NCDEX coriander down on profit booking, ample stocks.
CBOT soybean hits 7-week high on rise in exports.
Futures contracts of soybean on the CBOT surged to a seven-week high of $9.7950 cents per bushel due to higher-than-expected exports by the country. The most active November contract on the bourse traded at $9.7875 cents per bushel, up 0.8% from the previous close. The US exported 2.3 million tonne of the oilseed in the week ended Sep 14, up around 45% from the previous week.
All-India cotton arrivals up at 12,200 bales on 21 Sep.
All-India cotton arrivals up at 12,200 bales on 21 Sep.
Rajasthan pegs 2017-18 oilseeds output up.
Rajasthan pegs 2017-18 soybean output at 1.2 million tonne, up 7.6%. Rajasthan pegs 2017-18 Groundnut output at 1.2 million tonne, up 2%.
Brazil cuts estimate for 2017 coffee output.
Brazil cuts estimate for 2017 coffee output.
Thailand white sugar cash premiums surge to 6-year high on supply tightness.
The cash premium for Thailand’s refined sugar surged to a six-year high this week as near-term supply tightness sent buyers in the Asia Pacific region scrambling for cargoes. The rise started in mid-July when more cargoes were shipped to Taiwan with a subsequent increase in flows to China as Taiwan replaced Myanmar as the destination for illegal sugar shipments. A total of 295,067 mt of Thai white sugar were shipped to Taiwan in the three months to August. This compared with 141,738 mt during the same period to Myanmar. But as demand from Taiwan became consistent, it was the near-term supply tightness that further supported the cash premium.
India maize prices seen down as high carryover stock to offset low output.
India maize prices seen down as high carryover stock to offset low output.
Brazil Sugar production down as ethanol output high.
Brazil Center/South (CS) mills might cut sugar production between 500,000 and 1 million tonnes this crop compared with the previously projected 34 million as a result of higher ethanol output.
Telangana govt to start maize procurement in Nizamabad from Sep 22.
Telangana govt to start maize procurement in Nizamabad from Sep 22.
NCDEX mustard down nearly 1% as stocks seen high.
The October contract of mustard seed on the NCDEX ended nearly 1% lower today because of expectations of higher stocks of the oilseed this season. The October contract ended at 3,744 rupees per 100 kg, down 0.9% from previous close. Inventories of mustard seed in February next year are estimated higher because of lower crushing due to sluggish exports in the oilseed year. In February this year, closing stocks of mustard seed from the old crop were estimated at 250,000 tonne.
Maize prices down in Nizamabad on poor quality.
Maize prices down in Nizamabad on poor quality.
India Soybean closes 1% lower on CBOT cues; CPO gains.
Futures contracts of edible oils on the domestic exchanges traded mixed. Soybean and mustard futures traded lower while soyoil and crude palm oil traded higher. Increased fresh arrivals of soybean in key growing regions further weighed on the sentiments. Extending weakness from the previous session, mustard futures on the NCDEX settled around 1% lower due to subdued buying from oil millers. Higher carryover stock from 2016-17 season also pulled down the prices.
Kenya maize subsidy extended as rains delay harvesting.
Kenya maize subsidy extended as rains delay harvesting.
Chhattisgarh sees 2017-18 kharif oilseeds output up.
Chhattisgarh pegs ’17-18 kharif oilseed crop at 227,480 tonne, up 29%. Chhattisgarh pegs ’17-18 soybean output at 112,660 tonne, up 19%.
South Korea govt to purchase 350,000 tons of rice for reserve.
South Korea govt to purchase 350,000 tons of rice for reserve.
Urad down in Akola on high arrivals, moisture.
Urad prices in Akola were down on expectations of a further rise in the new crop arrivals in the coming weeks. Arrivals of urad in Akola are likely to increase to 2,000 bags in the coming days. Buying is sluggish currently because moisture content in the new arrivals is higher at 16% as against the normal 10-13%.
NCDEX coriander down 2% on profit booking.
NCDEX coriander down 2% on profit booking.
Akola tur down as yield seen up; Kalaburagi mkt shut.
Prices of tur in Akola, Maharashtra, were down because of expectations of rise in the crop’s yield due to fresh spell of rains in Marathwada and Vidarbha regions. Despite a fall in acreage this year, fresh spell of rains in key growing regions of Maharashtra is likely to boost yield.
All-India cotton arrivals down at 9,600 bales on 20 Sep.
All-India cotton arrivals down at 9,600 bales on 20 Sep.
Chana down in Delhi on weak demand from dal millers.
Prices of chana were down in Delhi due to sluggish demand from dal millers. There have been lower purchases by dal millers because the prices are at higher levels and there are views that they have procured good quantity a month ago. On the NCDEX, the most-active October contract was down 1.3% at 5,955 rupees per 100 kg from previous close.