NCDEX to re-launch chana futures from Friday.
Ram Gopal Yadav (9 years ago)

To start with, September, October and November contracts available for trading, and the contract size will be 10 tn. The transaction charges for trading in chana futures in line with charges for commodities in list B, which is a flat rate of 2 rupees per 100,000 rupees of trade, till further notice.

STC invites bids for sale of 2,362 tonne imported urad.
Ram Gopal Yadav (9 years ago)

STC Ltd has floated a tender to sell 2,362 tonne of imported urad from the 2016-17 crop of Myanmar origin. Offers should be for a minimum quantity of 150 tonne. The commodity is at the Central arehousing Corp in Virugambakkam and Royapuram in Chennai. Bids must be submitted on Jul 26, and opened on the same day.

NCDEX marks 3,450 tonne soybean for staggered delivery.
Ram Gopal Yadav (9 years ago)

The NCDEX has marked 3,450 tonne of soybean for staggered delivery in the July contract, which will expire next Thursday. 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.

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

Futures contracts of soybean fell over 1% on the NCDEX, taking cues from a fall in prices in major spot markets. The most-active August contract of soybean was down 1.3% from the previous close. The current month contract also traded 1.2% lower. With the southwest monsoon reviving over Madhya Pradesh, expectations of improved sowing in the coming days have pulled down prices in the state.

CBOT soybean down on profit booking by investors.
Ram Gopal Yadav (9 years ago)

After hitting a four-month high of $10.3250 per bushel in electronic trade on the CBOT, soybean contracts were down because of profit booking by investors. The most active August contract on the CBOT was at $10.2275 per bushel, down 0.6% from previouse close. Unexpected overnight rains across parts of mid-west US as well as over the Great Plains, coupled with forecast of more showers in the coming week led investors to book profits.

WASDE OUTLOOK OILSEEDS JULY:
Ram Gopal Yadav (9 years ago)

U.S. oilseed production for 2017/18 is projected at 127.0 million tons, up 0.2 million from last month, with increases for soybeans, canola, and peanuts only partly offset with a lower forecast for sunflowerseed and cottonseed. Soybean production is projected at 4,260 million bushels, up 5 million on increased harvested area. Harvested area, estimated at 88.7 million acres in the June 30 Acreage report, is up 0.1 million from last month. The soybean yield forecast is unchanged at 48.0 bushels per acre. Despite slightly higher production, 2017/18 soybean supplies are reduced 35 million bushels on lower beginning stocks. With projections for exports and crush unchanged, 2017/18 soybean ending stocks are reduced 35 million bushels to 465 million. Soybean exports for 2016/17 are projected at 2,100 million bushels, up 50 million, reflecting shipments and outstanding sales through early July. Soybean crush is reduced 10 million bushels to 1,900 million on lower projected soybean meal exports and domestic use. Soybean ending stocks for 2016/17 are projected at 410 million bushels, down 40 million from last month. The U.S. season-average soybean price is forecast at $8.40 to $10.40 per bushel, up $0.10 at the midpoint. Soybean meal prices are forecast at $300 to $340 per short ton, up $5.00 at the midpoint. The soybean oil price forecast is unchanged at 30 to 34 cents per pound. The 2017/18 global oilseed supply and demand forecasts include higher production, exports, and stocks compared to last month. Global oilseed production for 2017/18 is projected at 573.9 million tons, up 0.9 million mostly on higher forecasts for Ukraine sunflowerseed, India cottonseed, U.S. peanuts, and China soybeans. Partly offsetting is lower rapeseed production for Australia. Ukraine sunflowerseed harvested area is raised in line with revisions for 2016/17, resulting in a higher production forecast. Soybean production is raised for China due to increased harvested area. Global oilseed exports for 2017/18 are projected at 172.9 million tons, up 0.6 million mainly reflecting increased soybean exports for Brazil and Ukraine. Soybean exports are also raised for 2016/17 as higher exports for the United States and Paraguay are partly offset by lower exports for Brazil and Argentina. Global soybean imports are forecast higher principally for China where imports are projected up 2 million tons to 91 million in 2016/17 and 1 million tons to 94 million in 2017/18. Global oilseed ending stocks for 2017/18 are up 1.0 million tons to 104.5 million mostly on higher soybean stocks in China and South America.

WASDE OUTLOOK SUGAR JULY:
Ram Gopal Yadav (9 years ago)

U.S. deliveries for human consumption for 2016/17 are increased by 100,000 short tons, raw value (STRV) to 12.300 million based on pace-to-date through the end of May. Florida sugar production for 2016/17 is increased by 3,795 STRV to 2.055 million based on end-ofseason processor reporting to the USDA. Ending stocks are decreased by the sum of these adjustments to 1.440 million STRV, implying a stocks-to-use ratio of 11.4 percent. Imports for 2017/18 are increased by 225,445 STRV to 3.557 million. The increase is comprised of 176,370 STRV of additional specialty sugar that enters under the 2017/18 refined sugar tariffrate quota and an additional 49,075 STRV from Mexico. Deliveries for human consumption are projected to increase one-percent over the estimate for 2016/17 to 12.423 million STRV. Ending stocks for 2017/18 are projected at 1.132 million STRV, implying a stocks-to-use ratio of 9.0 percent. Mexico 2016/17 sugar imports intended for the IMMEX product re-export program are increased by 10,000 metric tons (MT) to 60,000 based on the pace to date. Sugar exports for 2016/17 to non-U.S. destinations are increased by 15,000 MT to 165,000 based on the pace to date. Exports to non-U.S. destinations for 2017/18 are decreased 15,000 MT to 10,000 based on expected higher-valued export alternatives to the U.S. market. Deliveries for the IMMEX program for 2017/18 are reduced 60,000 MT to 330,000. For 2017/18, exports to the United States are projected at 1.561 million MT. These exports are projected as the lower of the following: (1) anticipated U.S. Needs of 2.048 million MT as defined in the Suspension Agreements; or (2) the export level that yields an ending stocks-to-consumption ratio of 18.0 percent. The 18-percent stocks-to-consumption ratio is an assumed lower bound necessary for use until the new Mexico sugarcane harvest is well underway.