India soybean down on arrivals of fresh crop; CPO falls.
Ram Gopal Yadav (9 years ago)

Futures contracts of edible oils traded lower because of reports that arrivals of the kharif oilseed crop had started, as well as due to weakness in global markets. Soybean settled 1.3% lower on the National Commodity and Derivatives Exchange due to reports of arrival of the fresh soybean crop in Madhya Pradesh, the largest grower.

Canada Canola flat as soybeans rise on dry Midwest weather.
Ram Gopal Yadav (9 years ago)

Canola futures were little changed even as soybeans surged higher. The seven days forecast for the Canadian Prairies remains dry and the cool weather should give way to warmer temperatures and the rest of the week. Soybeans rose on dry weather in the U.S. Midwest that could prevent the crop from reaching its full potential. Also, a new soybean purchase by China underlined the good pace of export demand for American beans. Soymeal closed higher, but soy oil finished lower after being higher in the morning.

Canada frost damage to soybeans.
Ram Gopal Yadav (9 years ago)

Frost damage to soybeans depends on the stage of the soybeans and how cold it gets and for how long. Frost is possible two days Wednesday morning in parts of Manitoba. Soybean growth stage is determined by examining the pods. It is all about the pods, so don’t get distracted by the condition of the leaves. The more advanced/mature the soybeans pods are, the less the potential yield loss.

Malaysia CPO down on increase in output concerns.
Ram Gopal Yadav (9 years ago)

Futures contracts of crude palm oil on Bursa Malaysia Derivatives were down as traders were cautious over the increase in production in the coming months. The most active November futures contract traded at 2,761 ringgits (41,704rupees) per tonne, down 6 ringgits from the previous close. An appreciation in the Malaysian currency against the dollar further supported the fall in prices. Strength in the ringgit against the greenback makes palm oil unattractive for Malaysian exporters.

MMTC invites bids for sale of 7,090 tonne masoor, 2,010 tonne tur.
Ram Gopal Yadav (9 years ago)

MMTC Ltd has floated a tender to sell 7,090 tonne imported masoor lying at the Mumbai Port Trust shed. MMTC has also floated tender to sell 2,010 tonne imported tur and 1,965 tonne imported urad. The urad and tur are lying at the Central Warehousing Corp, Vashi and Maharashtra State Warehousing Corp, Panvel. Bids must be submitted on Sep 12. The bids remain valid for acceptance till Sep 14.

ISMA says mills plan early crushing, to produce 800,000 tonne sugar October.
Ram Gopal Yadav (9 years ago)

Sugar mills across the country are likely to produce over 800,000 tonne sugar in October. Usually, sugar mills produce about 300,000 tonne or less sugar in October. The Centre has asked millers across the country to begin cane crushing operations for the 2017-18 (Oct-Sep) season early in October, in a bid to tide over likely shortages during the festival season. ISMA has estimated mills in Uttar Pradesh produce about 293,000 tonne sugar and those in Maharashtra about 391,000 tonne of the sweetener in October. Sugar output in October is projected at 6,000 tonne for Tamil Nadu, at 91,000 tonne for Karnataka and at 22,000 tonne for Gujarat. Crushing at almost all sugar mills across the country would be in full swing by Nov 1. Therefore, we can expect to get another 16-17 lac tons (1.6-1.7 million tonne) sugar in the first 15 days of November.

Jr farm minister says maintaining 2016-17 pulses output a challenge.
Ram Gopal Yadav (9 years ago)

Maintaining the record pulses output of 2016-17 (Jul-Jun) this year would be a challenge as some farmers have shifted to other crops looking for better realisations. Last year we harvested record pulses and reached close to self-sufficiency. This year it seems a challenge. Indian farmers harvested 22.95 million tonne of pulses in 2016-17, up from 16.35 million tonne previous year, according to the fourth advance estimates of farm ministry. National Bulk Handling Corp Pvt Ltd has estimated India’s kharif pulses output for 2017-18 at 8.5 million tonne, less than 9.4 million tonne harvested a year ago. India’s pulses output seen falling this year as the bumper crop last year weighed on prices, discouraging farmers from sowing pulses.

Record sugar output 9.7 million tonne in UP likely in 2017-18: ICRA
Ram Gopal Yadav (9 years ago)

ICRA estimated the state’s sugar production to stand at 9.7 million tonnes (mt) in the upcoming season this year. Meanwhile, data compiled by the All India Sugar Trade Association pegged the state’s sugar output at 8.7 mt during 2016-17. This indicates mills in UP would produce 11.5 per cent more sugar in the coming season or nearly four times the state’s own consumption. Domestic production for the full season during 2018 is likely to increase by 18-20 per cent to 24-24.5 mt, driven principally by a recovery in cane availability in Maharashtra and North Karnataka, besides support from monsoons.