NCDEX soybean down 1% on cues from spot markets.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean fell nearly 1% on the NCDEX, taking cues from weakness in major spot markets. The most active August contract of soybean on the NCDEX was down 0.8% from the previous close. The October contract was also trading 0.2% lower. Prices fell in major spot markets after sufficient rainfall in Madhya Pradesh this week boosted prospects of improved sowing in the state.

Nearly 90% sugarcane dues cleared by UP govt.
Ram Gopal Yadav (9 years ago)

Out of the total outstanding cane dues of Rs 25,836.46 crore for crushing season 2016-17, a payment of Rs 22,807.53 crore was made to cane growers till July 14. This is 89.84 per cent of the total dues. Around 90 per cent of cane dues amounting to Rs 22,807 crore was given to sugarcane growers till July 14 during the crushing season 2016-17. The cane area of the state had increased by two lakh hectare due to the faith reposed by farmers on Chief Minister Yogi Aditynath.

Jaipur mustard seed down on low buys from oil millers.
Ram Gopal Yadav (9 years ago)

Mustard seed prices in Jaipur were down because of lower demand from the oil millers. However, arrivals across the country were unchanged at 95,000 bags (1bag=85kg). The most active August futures ended down 1%. Weakness in the entire edible oil complex due to expectation of a cut in the import duty on the crude palm oil is also seen creating bearish sentiment.

Maharashtra drip irrigation mandatory for sugarcane crop.
Ram Gopal Yadav (9 years ago)

The Maharashtra government has made drip irrigation mandatory for sugarcane crops in all the irrigated command areas across the state. More than half the land in Maharashtra is drought-prone and this decision is considered a formidable step towards water conservation. The government install drip irrigation system in the fields of total 3.7 lakh hectares in a phased manner within the next two years. The state provides a loan with an interest rate of only 2%. The amount of loan will be Rs 85,400 per hectare.

China to import more US soybean.
Ram Gopal Yadav (9 years ago)

Seven Chinese soybean buyers signed agreements here last week to buy 12.5 million metric tons (460 million bushels) of 2017-2018 U.S. soybeans, the second-largest deal after the 2015 agreement.

Sugar prices up in Maharashtra, unchanged in Delhi.
Ram Gopal Yadav (9 years ago)

Prices of sugar inched up in the key wholesale markets of Maharashtra as millers quoted higher prices. Despite poor demand, mills are raising prices as there is no pressure on them to sell stocks. Millers will receive the new supply of sugar by mid-September and will have to manage with the current stocks till then. In North India, prices of sugar remained unchanged. Sugar futures on NCDEX it the 3% upper limit, taking cues from the strength in spot prices.

CBOT soybean futures gain on weather vagary in US.
Ram Gopal Yadav (9 years ago)

Futures contracts of soybean on the CBOT extended previous session gains and traded 0.5% higher due to low soil moisture and prevailing hot weather in the US. The unfavourable weather may hit the growth and resultant yield of the plant. Around 40% of the soybean crop in the country is in poor condition. The most active August soybean contract traded at $9.9450 a bushel on the CBOT up 0.5% from the previous close.

Pakistan govt allows export of 300,000 tonne of sugar.
Ram Gopal Yadav (9 years ago)

The Pakistan government has allowed export of 300,000 tonne of sugar. The country had 1.45 million tonne of surplus sugar stock from the last crushing season. Exporters in the country should export the allotted quota within two months. Earlier, Pakistan had allowed export of 425,000 tonne sugar, as millers in the country wanted the government to allow export to settle dues of farmers.

NCDEX marks 4,540 tonne soybean for staggered delivery.
Ram Gopal Yadav (9 years ago)

NCDEX has marked 4,540 tonne of soybean for staggered delivery in the July contract, which expire Thursday. The bourse has also marked 780 tonne of castor seed, 550 tonne of wheat, 415 tonne of guar gum, 310 tonne of mustard seed, 240 tonne of cottonseed oilcake, 171 tonne of jeera, 100 tonne of guar seed and 20 tonne of mustard oilcake for staggered delivery in the July contract. Staggered delivery is used to check any artificial rise in prices. Under this mechanism, sellers can indicate intention of delivery to the exchange during the tender period, currently a 10-day span before the contract expires.

India edible oil most down; soybean, mustard up on high demand.
Ram Gopal Yadav (9 years ago)

Futures contracts of most constituents in the edible oil basket, barring soybean and mustard, declined on domestic commodity exchanges. Shrugging off the previous session weakness, contracts of soybean on NCDEX closed 0.8% higher due to improved demand at lower prices in spot markets. Lower arrivals in key markets also boosted the prices. Arrivals were low as farmers are busy in sowing. Futures contracts of mustard on the NCDEX settled 0.5% higher bolstered by improved purchases in wholesale markets.

Uttar Pradesh sees 2017-18 sugar output 9.2-9.5 million tonne, up 5-9% year on year.
Ram Gopal Yadav (9 years ago)

Uttar Pradesh is likely to peg sugar output for 2017-18 (Oct-Sep) at 9.2-9.5 million tonne, up 5.1-8.6% on year. Mills in the state had produced a record 8.75 million tonne sugar a year ago, surpassing the previous high of 8.47 million tonne produced in 2006-07. For the next season, Uttar Pradesh sees production reaching about 9.2 million tonne to 9.5 million tonne as the acreage of sugarcane is rising. The acreage of sugarcane in Uttar Pradesh, the country top cane producing state, is likely to rise 5% in 2017-18 (Jul-Jun).