Sugar Extends Losses on Strong Brazil Harvest Prospects.
Ram Gopal Yadav (9 years ago)

Sugar futures declined, extending losses for a crop that has been weighed down by abundant harvest prospects in Brazil. Raw sugar for October delivery declined 2.9% to settle at 13.24 cents a pound, extending its losses to the eighth consecutive session on the ICE Futures U.S. exchange. The market expected record 50.69 million tons of cane was crushed in the second half of July in central-south Brazil, up 2.6% on the year. Sugar is being pressured because the harvest has been going full-speed for two months, which is the longest stretch of dry weather in at least four years.

NAFED procures 59,700 tonne of 2016-17 chana from 4 states.
Ram Gopal Yadav (9 years ago)

The National Agricultural Cooperative Marketing Federation of India has bought over 59,700 tonne of chana from the 2016-17 (Jul-Jun) rabi crop as of Monday from farmers of Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana under the price stabilisation fund. The agency has procured 14,213 tonne of the pulse from 25 centres set up in Madhya Pradesh, 1,144 tonne from two centres in Uttar Pradesh, and the rest from the Adampur centre in Haryana. The maximum amount of 20,560 tonne was procured in Rajasthan Bikaner district. Pace of procurement is slow in Uttar Pradesh and Haryana due to rains in the ongoing monsoon season.

NCDEX raises transaction fee for chana contracts effective Aug 16.
Ram Gopal Yadav (9 years ago)

The National Commodity and Derivatives Exchange Ltd increased the transaction fee on futures contracts of chana to 4 rupees per 100,000 rupees of turnover for an average daily turnover of up to 250 million rupees. The new transaction fee will be effective from Aug 16. Earlier, transaction fee for chana contracts were flat 2 rupees per 100,000 rupees.

India Soybean gains on bullish global, spot sentiments.
Ram Gopal Yadav (9 years ago)

Paring weakness from the previous session, soybean contracts on the National Commodity & Derivatives Exchange traded higher bolstered by firm buying from crushers, backed by upbeat soymeal exports. Gains in the bellwether soybean contract on the Chicago Board of Trade also propped up the prices on the Indian exchange. Taking cues from soybean, refined soyoil contracts on the NCDEX and crude palm oil on the MCX traded higher owing to rise in demand in wholesale markets and talks of a duty hike on imports of palm oils. Soybean traded higher on the US exchange following weather vagaries in the US.

Soybean prices rise in Indore on firm demand.
Ram Gopal Yadav (9 years ago)

Prices of soybean rose in the key wholesale market of Indore due to strong demand from oil millers. Firm exports of soymeal have also been supportive for soybean prices. In July, India soymeal exports rose over 150% on year to 30,678 tonne.

NCDEX soybean up on slow progress of kharif sowing.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean rose nearly 1% on NCDEX due to slow progress of kharif sowing in Madhya Pradesh, the largest grower of the oilseed. The most-active October contract of soybean on the NCDEX was at 3,128 rupees per 100 kg, up 0.7% from the previous close. So far, this kharif season, farmers have planted soybean across 4.5 million ha in Madhya Pradesh, down 12.5% from the previous year, according to data from the farm ministry. Rise in exports of soymeal, a derivative of soybean, by 150% on year in July also supported prices.

Palmolein oil rise on upbeat demand.
Ram Gopal Yadav (9 years ago)

Prices of palmolein rose by Rs 50 per quintal at the wholesale oils and oilseeds market on pick-up in demand from vanaspati millers and retailers. However, non-edible oils held steady in tight movements. Traders said uptick in demand from vanaspati millers and retailers mainly attributed the rise in palmolein and soyabean oil prices.

Malaysia Jul palm oil output up 20.7% on month at 1.83 million tonne.
Ram Gopal Yadav (9 years ago)

Malaysia crude palm oil production in July was up 20.7% on month to 1.83 million tonne, and palm oil exports increased 1.3% to 1.40 million tonne. Stocks of palm oil in Malaysia were at 1.78 million tonne at the end of July, up 16.8% on month. Crude palm oil stocks were at 936,438 tonne at the end of July, up 17.3% on month. Processed palm oil stocks, also rose 16.3% on month to 847,705 tonne. Biodiesel exports were at 50,580 tonne in July, up from 9,440 tonne sold overseas in June.