Gujarat farmers advised to plant oilseeds post floods.
Ram Gopal Yadav (9 years ago)

IMD Agrimet division has advised farmers in Gujarat to plant sunflower and sesame if the first crop failed due to the recent flood or water logging. Groundnut, soybean, castor, and guar are among the major crops grown in the state. Gujarat has received 26% above-normal rains in the southwest monsoon season so far.

Soybean prices up in Indore on crop damage concerns.
Ram Gopal Yadav (9 years ago)

Prices of soybean in the key wholesale market of Indore, Madhya Pradesh rose because of concerns over crop damage due to pest attack. Incidents of white grub, semi-looper caterpillar, girdle beetle and white fly attacks have been reported in key growing areas of Madhya Pradesh and Maharashtra.

Soybean Futures Climb on Export Strength.
Ram Gopal Yadav (9 years ago)

Soybean futures rose on higher-than-expected export sales and renewed concerns about a rain shortage. Soybean futures for September rose 0.9% to $9.30 1/4 a bushel at the Chicago Board of Trade.

U.S. soybean export sales build as China buying accelerates.
Ram Gopal Yadav (9 years ago)

U.S. soybean export sales have been languishing for much of the summer following a record-shattering Brazilian crop, but demand for U.S. shipments is gathering pace, led by renewed demand from top importer China. Export sales last week handily topped trade expectations, surging to the second-highest level so far this year, and sales to China exceeded the previous three weeks combined. Chinese importers are now turning to U.S. shipments that are priced at least $12 per ton below cargoes loaded at Brazil’s Paranagua port for September through November shipment.

Russian soybean oil output exceeded 0.5 MMT.
Ram Gopal Yadav (9 years ago)

Soybean crushing in Russia is on the rise in the latter half of the 2016/17 season. Soybean oil production gained almost 2% in June against May and reached 63.3 KMT. soybean oil output reached 547.6 KMT in the period under review that is 3.6% more than at the same time in the past 2015/16 season (528.5 KMT). Soybean oil accounts for over 11% of total vegoil production.

Moong down in Jaipur on lower demand from millers.
Ram Gopal Yadav (9 years ago)

Prices of moong in the benchmark market of Jaipur fell because of subdued demand from stockists and millers. Heavy rains and floods in Assam, West Bengal and Bihar have led to lower demand for the commodity from these respective states and this is seen weighing on prices.

NAFED, NCDEX e-Markets to buy pulses, oilseeds from farmers online.
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India Ltd and NCDEX e-Markets Ltd have signed an agreement to create an e-platform for the procurement of oilseeds and pulses directly from farmers. The e-procurement platform enables farmers to sell the commodity to NAFED and NCDEX e-Markets online. This also provide end-to-end solution for the commodities till its storage in the warehouse and its disposal. Hassle-free transactions can be carried out as the platform is linked with the Core Banking System of banks for direct bank transfers into farmers account. The exact amount payable to them calculated and the amount transferred directly to their Aadhaar-linked bank accounts. The platform used by all NAFED state units for procurement of pulses and oilseed.