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.

Sugar WASDE August Outlook
Ram Gopal Yadav (9 years ago)

U.S. beet sugar production for the 2017/18 August-July crop year is increased by 89,500 short tons, raw value (STRV) to 5.131 million based on area and sugarbeet yield forecasts made by NASS in Crop Production report. Early-season production occurring in August and September is projected to constitute 10.7 percent of the total. Revised fiscal 2016/17 production of 4.998 million STRV incorporates the updated early season production. The projection for fiscal 2017/18 is 5.068 million STRV, up 80,000 from last month. Although NASS forecasts reduced area harvested for both Florida and Louisiana sugarcane, forecast yields in both states are up strongly over last year. Florida cane sugar production for 2017/18 is increased by 126,000 STRV to 2.126 million and Louisiana is increased by 26,000 STRV to 1.626 million. USDA increased the 2016/17 raw sugar tariff-rate quota (TRQ) by 269,724 STRV and extended the time under which the sugar can enter by an additional month to October 31, in the 2017/18 fiscal year. The Office of the U.S. Trade Representative allocated this amount and reallocated existing, but yet unshipped, raw sugar TRQ among supplying countries. It is estimated that an additional 148,470 STRV of TRQ raw sugar will enter in 2016/17 and 161,499 STRV in 2017/18. Sugar imported from Mexico is projected to increase by 103,932 STRV in 2016/17 after the Commerce Department increased the 2016/17 Export Limit but is reduced by nearly that same amount in 2017/18 due to lower beginning stocks in Mexico. Re-export imports of 25,000 STRV previously estimated to enter in 2016/17 are now projected to enter in 2017/18. High-tier tariff imports for 2016/17 are reduced to 10,000 STRV, based on the pace to date. Mexico 2016/17 sugar imports and deliveries for consumption are up fractionally based on the pace to date. Deliveries in 2017/18 are increased marginally to keep sweetener consumption per capita the same as in 2016/17. Exports to the United States in 2016/17 are increased by 88,949 MT to match the Export Limit increase made by the Commerce Department. These adjustments for 2016/17 imply a reduction in ending stocks of 86,577 MT. Exports to the United States for 2017/18 are residually projected at 1.466 million MT, an amount 94,091 lower than projected last month.