CBOT soybean futures gain tracking Malaysia CPO.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean traded higher on the CBOT tracking key crude palm oil contracts on Bursa Malaysia Derivatives. Prices of soybean and crude palm oil usually move in tandem as they are used in the production of bio-diesel. Poor condition of the soybean crop in the US, the world largest grower, due to dry weather also boosted prices on the Chicago bourse. The August soybean contract on CBOT traded at $9.9650 per bushel, up 0.8% from the previous close.

Soybean down in Indore tracking overnight CBOT cues.
Ram Gopal Yadav (9 years ago)

Soybean was down in Indore tracking overnight fall in prices on the CBOT. However, sharp fall in the prices was restricted due to lower arrivals of the oilseed amid heavy rains in Madhya Pradesh. Soybean August contract on the CBOT ended 16 cents down at $9.8150 per bushel because of favourable weather in the US Midwest. Futures contracts of soybean on the NCDEX were down 0.3%.

Adani Wilmar took delivery of 15,000 tonne of soybean on NCDEX in Jun.
Ram Gopal Yadav (9 years ago)

Adani Wilmar Ltd took delivery of 15,000 tonne soybean on the National Commodity and Derivatives Exchange under the June contract. At 4,140 tonne, Sunrise Broking Pvt Ltd made the highest delivery of soybean to the exchange. Olam Agro India Pvt Ltd took delivery of 4,690 tonne of the same-month contract of mustard seed, while the largest delivery of the oilseed was made by ITC Ltd at 6,330 tonne. Inditrade Business Consultants Ltd took delivery of 4,500 tonne castor seed, while Kashmeen Commodities Pvt Ltd delivered 2,980 tonne of the commodity.

CBOT soy up on short covering, crop damage worry.
Ram Gopal Yadav (9 years ago)

Soybean futures on CBOT were higher as investors covered short positions after prices fell for three straight trading days. The most active November contract on CBOT was at $9.9675 per bushel, up 0.4% from the previous close.

Rajkot Oilseeds complex.
Ram Gopal Yadav (9 years ago)

Edible oil prices were mixed in the early trades. Groundnut oil prices were steady due to restricted buying and selling. Cottonseed oil firmed up due to short supply. Mustard oil eased due to low retail demand. Worries that extreme weather conditions in the US had taken a huge toll on crops also kept prices up.

Govt seeks Parliament OK to spend 5 billion rupees on pulses procurement.
Ram Gopal Yadav (9 years ago)

The government sought Parliament approval to provide 5 billion rupees for procurement of pulses under the Price Stabilisation Fund. The approval for the additional amount was sought in the First Batch of Supplementary Demands for Grants tabled in Lok Sabha. The government started procurement of legume crops through state and centre-run government agencies to buoy falling prices and help farmers. Last year, the government procured pulses to create a buffer stock of 2 million tonne and to bring down soaring prices. However, a bumper crop subsequently led to a steep fall in prices, prompting the government to intervene and initiate procurement to support the prices.

Canada masoor exports down 18% on-month in June.
Ram Gopal Yadav (9 years ago)

Masoor exports from Canada in June were down 18% on month at 68,600 tonne. Exports were up 128.7% on year-on-year basis. In June last year, the country had exported 30,000 tonne of masoor. However, so far in the marketing year ending in July, the exports were up at 853,100 tonne as compared to 631,400 tonne in the year-ago period. Canada is a major supplier of pulses in the global market, while India is the largest consumer.