NCDEX refined soya oil October gained 0.49 per cent.
Ram Gopal Yadav (8 years ago)

Extending its rising streak for the second day, refined soya oil prices strengthened by another 0.49 per cent in futures trading as speculators engaged in building up positions, driven by rising demand in the spot market. Expanding of positions by traders on the back of rising demand in the spot market against restricted supplies from producing belts mainly kept refined soya oil prices in positive terrain at futures trade.

U.S. decides to tax Argentinian biodiesel imports.
Ram Gopal Yadav (8 years ago)

U.S. Commerce Department considered that Argentinian and Indonesia exports of biodiesel are subsidized. This would result in tariffs ranging from 50.29 percent to 64.17 percent in the case of Argentina and 41.06 percent and 68.28 percent regarding Indonesia. In 2016, Argentina exported nearly US$ 1.2 billion of biodiesel to the United States.

Chana prices rose in spot and NCDEX 1.25 per cent.
Ram Gopal Yadav (8 years ago)

Chana prices rose by 1.25 per cent to Rs 5,855 per quintal in futures trading as traders built up fresh positions amid uptick in demand in the spot market.The rise in chana prices in futures trade to fresh positions created by participants after pick up in demand in the spot market.

Kabuli gram, arhar rise on stockists’ buying.
Ram Gopal Yadav (8 years ago)

Prices of kabuli gram and arhar rose by Rs 100 per quintal at the wholesale market on revival of buying by stockists amid pick-up in demand from retailers. Fresh buying by stockists backed by uptick in demand from retailers against restricted supplies from producing belts mainly led to the rise in kabuli gram and arhar prices.

Myanmar blames India for restricting pulses import quota.
Ram Gopal Yadav (8 years ago)

Yangon has blamed New Delhi for restricting import of three major pulses from Myanmar, saying that the move has plunged Burmese pulses industry into chaos. In August, India announced a 200,000-ton import quota on pigeon peas and 300,000-ton quota on mung bean and green grams. The severe restriction by India limiting the amount of pea products from Myanmar has quickly and adversely affected the Burmese pulses market. The restriction would help support prices of lentils in India but would put pressure on producers in Myanmar who rely heavily on export to India. Myanmar has been exporting peas to India for nearly three decades, while India exported medicines, sugar and agricultural machinery to Myanmar. Yangon’s commodity depot has ceased operation due to India’s import quota restriction on pulses, prompting the pulse prices to plummet.

Demand for survey, showing affected crop.
Ram Gopal Yadav (8 years ago)

MP Farmers say when the insurance company come from the surveyor not getting the information. Hundreds of farmers from dozens of villages reached the collectorate with the crop of affected soybean. But the collector said stop now. Let it be a little more time Because one person cannot be surveyed. Now you have come again and farmers come. After some time, the situation become clear. After this, the survey done together, the damage done by assessing the loss, but the farmers said that the crop has worn out, which is to plow the farm. Then how the loss be assessed. After this, the collector assured them to get the sum insured in the light loss.

India Soybean closes a tad down; CPO up on Malaysia cues.
Ram Gopal Yadav (8 years ago)

Futures contracts in the edible oil basket traded mixed, with soybean and mustard ending lower and crude palm oil and refined soyoil traded higher on domestic exchanges. Their prices had risen in the past three previous sessions on reports of weak area under the kharif crop this year. Soybean and mustard futures on National Commodity and Derivatives Exchange ended lower due to tepid buying at higher price level.

CBOT soybean up nearly 1% on US weather concerns.
Ram Gopal Yadav (8 years ago)

The futures contracts of soybean on the CBOT traded nearly 1% higher mainly due to anticipation of poor weather in the US lowering yield of the oilseed. The most active November contract of soybean on the CBOT was at $9.44 per bushel, up 0.7% from the previous close. Crushing of US soybean will rise with a hike in import duty on bio-diesel, as soyoil–a derivative of soybean–is used in manufacturing of bio-diesel. Contracts gained also due to stronger-than-expected weekly US soybean export data.

Soybean prices up in Indore on low supplies.
Ram Gopal Yadav (8 years ago)

Prices of soybean were up in the key wholesale market of Indore, Madhya Pradesh, due to lower supply of soyoil amid good demand. Arrivals of soybean were steady. Refined soyoil in Indore was sold up 2-3 rupees from previous close. There is good demand for the seed from oil millers due to higher landed cost of imported crude degummed soyoil as compared to domestic market. Concerns over lower rainfall in key soybean growing areas of Madhya Pradesh and lower output also led to a rise in prices. The most active October futures contract was up 0.3%.

Army ration wing to buy 6,000 tonne edible oil Sep 12.
Ram Gopal Yadav (8 years ago)

The Army Purchase Organization has invited bids to buy 6,000 tonne of edible oil through NCDEX e-markets on Sep 12. In another tender, NCDEX e-markets auctioned 25 tonne soybean in Madhya Pradesh at 2,952 rupees per 100 kg against the base price of 2,950 rupees.