The National Agricultural Cooperative Marketing Federation of India has offered 385.30 tonne of moong, 23.75 tonne urad, and 3.39 tonne of tur for auction through NCDEX e-Markets. The moong, urad, and tur being offered are stocked at warehouses in Andhra Pradesh, Uttar Pradesh, and Telangana, respectively.
Iran’s SLAL tenders for 200,000 MT corn.
Iran’s SLAL tenders for 200,000 MT corn.
India Jul pulses import at Chennai port down 23% on M-O-M at 57,048 tonne.
Import of pulses at Chennai port fell 22.7% on month to 57,048 tonne in July. Imports of pulses declined in July as domestic prices were lower compared with those in global markets. Demand from millers was also subdued in July which led to the fall in imports. The decline in imports was led by a sharp fall in shipments of tur, moong and urad.
Korea corn processing industry association purchased about 55,000 MT corn.
Korea corn processing industry association purchased about 55,000 MT corn.
Delhi chana at 4 months high on urad, moong import curbs.
Prices of chana in Delhi rose to a four-month-high of 5,900 rupees per 100 kg, following the government move to cap the import of urad and moong at 300,000 tonne a year. On the NCDEX, the most-active September contract was up 1.7% from previous close. Prices in both markets Delhi and Bikaner were up 150-200 rupees.
EU crop monitor raises 2017 maize yield forecast.
EU crop monitor raises 2017 maize yield forecast.
Tur up in Akola as govt caps imports of urad, moong.
Prices of tur in the benchmark market of Akola, Maharashtra, rose due to improved sentiment. Arrivals were at 700-800 bags (1 bag = 100 kg), down from 1,000 bags on previous close. The price up of lemon tur in Mumbai.
Punjab CM sees state’s rice production 2017-18 up 44% at 18.2 MMT.
Punjab CM sees state’s rice production 2017-18 up 44% at 18.2 MMT.
Urad, moong up 300-500 rupees/100 kg on import curbs.
Prices of urad and moong rose 300-500 rupees per 100 kg in key markets after the government capped imports of the pulses at 300,000 tonne a year. The government has imposed restrictions on import to support prices, which continue to remain below the minimum support price.
NCDFI to buy 7,300 tn de-oiled rice bran.
NCDFI to buy 7,300 tn de-oiled rice bran.
Sugar Down in Maharashtra on subdued demand from bulk buyers
Prices of sugar fell in the key wholesale markets of Maharashtra due to sluggish demand from bulk buyers. Mills are quoting lower prices to trigger demand as crushing is expected to start earlier than usual in 2017-18 (Oct-Sep). Sugar mills in Maharashtra have, however, sought compensation of 500 rupees per tonne from the central government for the likely losses they would incur due to lower sugar recovery rate because of early crushing of sugarcane. However, Food Minister Ram Vilas Paswan on Aug 12 said that the government has no plans to allow further imports of sugar yet.
India coffee exports during Jan 1- Aug 18.
India coffee exports during Jan 1- Aug 18.
NCDEX soybean gains on lower acreage
Futures contracts in the edible oil basket traded higher on domestic exchanges. Soybean futures on NCDEX ended up, bolstered by a decline in acreage under the crop in the country. Soybean fell on the US exchange due to forecast of beneficial rains in the US. Dry weather conditions earlier posed threat to the standing soybean crop in the country, and rains may boost yield. Soyoil prices rose due to the ongoing strike at ports in Argentina.
Rice basmati goes up on increased offtake.
Rice basmati goes up on increased offtake.
Mustard seed prices up in Jaipur on lower arrivals
Prices of mustard seed rose in the benchmark market of Jaipur because of a fall in arrivals, as well good demand for the seed by millers. Arrivals across the country were at 120,000 bags (1 bag = 85 kg), down from 140,000 bags. Demand for the commodity from consumers was good.
Vietnam rice export target set at 5.2 million tonnes in 2017.
Vietnam rice export target set at 5.2 million tonnes in 2017.
Groundnut, mustard oils up on retailer demand.
Prices of groundnut and mustard oils rose by up to Rs 100 per quintal at the wholesale oils and oilseeds market today largely on pick-up in demand from retailers. Castor oil, in the non-edible section, also traded higher on increased offtake by consuming industries. Besides uptick in demand from retailers, fall in arrivals from producing belts mainly led to the rise in groundnut and mustard oil prices.
Taiwan’s MFIG tenders to buy up to 130000 MT of corn.
Taiwan’s MFIG tenders to buy up to 130000 MT of corn.
US Soybean Conditions Improve Slightly.
Recent rainfall in South Dakota is giving crops a major boost this week. The Crop Progress report issued by USDA-NASS shows soybean crops in the state had eight-point gains. Crop is now rated 42% good to excellent. But, gains discovered in South Dakota were lost in Illinois. Illinois soybean crop also declined. This week, 60% is good to excellent, down three points. Overall, the national soybean rating gained a point to 60% good-excellent.
NCDEX to add Akola, Jaipur, Ashok Nagar as chana delivery centres
The NCDEX Ltd add Akola, Jaipur and Ashok Nagar as additional delivery centres for chana futures expiring from December. New additional delivery centres were major producing and processing centres and would assist market participants at these locations to trade efficiently on the exchange. Exchange has also advised to take note of increase in position limit as notified on Aug 14 as per the SEBI.