India coffee exports during Jan 1- Aug 31.
Soybean up on bargain buying, bullish CBOT cues.
Futures contracts of the edible oil basket, barring mustard, traded higher tracking gains in international markets. Soybean on National Commodity and Derivatives Exchange traded higher due to bargain buying after the prices fell over 6% in the past four trading sessions. Lower acreage of soybean further supported the prices on the domestic bourse.
Govt wheat sales via OMSS remain weak at 193,000 MT.
Govt wheat sales via OMSS remain weak at 193,000 MT.
CBOT soybean up due to rise in demand from China.
Futures contracts of soybean extended gains on the CBOT due to a rise in imports from China. The US is the largest exporter of soybean in the world, while China is the largest importer. The shift in demand for soybean from Brazil to the US further supported prices. Brazilian traders are reluctant to sell soybean at the prevailing low prices. The most active November contract on the CBOT was at $9.4850 per bushel, up 0.3% from the previous close.
CBOT wheat up nearly 1% as Canada crop seen down.
CBOT wheat up nearly 1% as Canada crop seen down.
Indore soybean down on anticipation of higher yield.
Soybean prices in Madhya Pradesh benchmark market of Indore fell on anticipation of higher yields of the upcoming kharif crop. Good rains in Madhya Pradesh during the past few days, which help in better yields. Traders are not buying right now, as they expect prices to fall further in coming days.
Canadian hard red wheat bids drop with US harvest pressure.
Canadian hard red wheat bids drop with US harvest pressure.
Olam Agro takes delivery of 4,530 tonne of soybean on NCDEX.
Olam Agro India Pvt Ltd took delivery of 4,530 tonne soybean on the National Commodity and Derivatives Exchange in the August contract. Olam Agro also took delivery of 3,690 tonne of the same-month contract of mustard, while the largest delivery was made by Cargill India Pvt Ltd at 1,000 tonne.
EU wheat falls as traders lock in profits.
EU wheat falls as traders lock in profits.
Sunseed stocks in Ukraine were up 69% year-on-year.
Sunseed stocks in Ukraine totaled 729.4 KMT as of August 1, 2017, or 69% more than on the same date last year (431.5 KMT). 383.0 KMT out of this volume was held by growers themselves (+85.87 KMT or up 28% year-on-year), while sunseed storage and processing companies accounted for 346.4 KMT (+212.1 KMT or up 158%). By August 1, 2017, crushers had stockpiled almost 79.7% more soybeans than at the same time last year (135.7 KMT against 75.5 KMT by August 1, 2016). Rapeseed availabilities as of the reporting date were up 81% year-on-year at 988.4 KMT against 546.55 KMT as of August 1, 2016.
First 30,000 MT shipment of Russian wheat arrives in Venezuela.
First 30,000 MT shipment of Russian wheat arrives in Venezuela.
Ukraine new season starting with low rapeseed crushing.
Rape oil production by Ukraine large and medium-sized crushers hit a five-year low of 2.8 KMT in July 2017 that was down 71.4% from July 2016 (9.8 KMT).
India wheat futures soften 0.18% on ample stocks in spot markets.
India wheat futures soften 0.18% on ample stocks in spot markets.
Food Corp sells 60,000 tonne pulses of 395,000 tonne allowed for sale.
The Food Corp of India has sold nearly 60,000 tonne pulses over the 15 days through open market sales scheme. Sale of pulses has picked up now. In a meeting held on Aug 17, government allowed us to sell entire stock of moong, while for other pulses, they allowed sale of the stock purchased more than nine months ago. The central government issued a permit to sell 395,000 tonne of domestically purchased pulses from its stocks. The Centre is selling pulses from its buffer stock by floating tenders under the open market sales scheme to dispose of inventories, which rose sharply due to a bumper output last year followed by high imports.
Russia likely to produce another record wheat crop.
Russia likely to produce another record wheat crop.
Kolhapur sugar prices down on stock cap imposition.
Prices of sugar fell in the key wholesale market of Kolhapur, as implementation of a stockholding limit on mills dampened sentiment. As the stock limits are going to come into effect, mills are quoting lower prices to offload their stocks.
Korea corn processing industry association purchased about 60,000 MT corn.
Korea corn processing industry association purchased about 60,000 MT corn.
Coriander futures slide 3.30% on muted demand in India.
Coriander futures slide 3.30% on muted demand in India.
India Cooperative sugar mills oppose move to impose stockholding restrictions.
Cooperative sector sugar mills across the country have stated that the impact of the stock limit will dampen the cooperative sugar sector. The National Federation of Cooperative Sugar Factories (NFCSF) has expressed concern that the decision to impose stock limits is likely to result in dropping the ex-mill realization below the current levels of Rs 3,650 per quintal in addition to GST and this may adversely affect the timely cane payment to farmers across the country. The food ministry has imposed limits on stocks sugar mills can hold during September and October, in a bid to discourage hoarding and curb any potential price rise during the festival season.
Cargill estimates Brazil to export 5 million tonnes of corn in Aug.
Cargill estimates Brazil to export 5 million tonnes of corn in Aug.