The most-active July soybean contract on the NCDEX fell nearly 1% as sowing in key growing areas in the country gathered momentum with the progress of monsoon. The contract was at 3,412 rupees per 100 kg, down nearly 1% from the previous close. Soybean sowing was at 17,000 ha, up 31% from a year ago. Reports of weak soymeal exports also weighed on sentiment. However, any sharp fall was limited due to gains in key soybean contracts on the CBOT.
NCDEX mustard down tracking fall in soy, high stocks
Mustard seed contracts on the NCDEX were down tracking the fall in the soy complex on the exchange.Mustard seed prices dropped tracking soybean prices owning higher stockpiles in local mandis and government measures. The most active July contract on the NCDEX was down 0.8%.
NCDEX coriander up 2% on bargain buying; spot unch
The futures contracts of coriander were up nearly 2% on the NCDEX as investors bought the commodity. The most active July contract was up 1.7%. Open interest in the contract rose by 170 tn to 35,780 tn indicating bargain buying. In Kota the benchmark market, the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety was sold at 5,100 rupees, both steady from previous close. However, the medium term outlook for coriander remains weak because of low global demand and higher carryover stocks.
China corn auction price creeps higher, sales top 42 MMT.
China corn auction price creeps higher, sales top 42 MMT.
Planting of corn and soybeans wrapping up in South Dakota.
Planting of corn and soybeans wrapping up in South Dakota.
FAO raises 2018-19 global wheat output estimate by 7.5MMT to 754.1 MMT.
FAO raises 2018-19 global wheat output estimate by 7.5MMT to 754.1 MMT.
CBOT wheat prices to be supported by world crop problems.
CBOT wheat prices to be supported by world crop problems.
Black Sea wheat price behavior; old crop bearish, new crop bullish.
Black Sea wheat price behavior; old crop bearish, new crop bullish.
Wheat rises on production concerns, soybeans pressured by crop-friendly U.S. weather.
Wheat rises on production concerns, soybeans pressured by crop-friendly U.S. weather.
Ukraine continues to import buckwheat at a fast pace.
Ukraine continues to import buckwheat at a fast pace.
US corn net export sales rise 10% on week to higher end of expected range.
US corn net export sales rise 10% on week to higher end of expected range.
India maize edges up on scattered demand on 08 June.
India maize edges up on scattered demand on 08 June.
India rice export prices in India dip as Bangladesh production recovers.
India rice export prices in India dip as Bangladesh production recovers.
China approves basmati imports from 14 rice mills in India.
China approves basmati imports from 14 rice mills in India.
US approves sale of genetic modified golden rice.
US approves sale of genetic modified golden rice.
Bangladesh hikes import duty on rice to 28% from 2% amid bumper crop.
Bangladesh hikes import duty on rice to 28% from 2% amid bumper crop.
Kharif soybean area up 28% on year at 16,800 ha.
Acreage of Kharif soybean in the country was at 16,800 ha, up 28.2%. The normal area of soybean for the period is 5,100 ha. Normal area is calculated by taking out the average value of acreage in the last five years during the corresponding period. Soybean sowing has so far started in Gujarat, Karnataka and Uttarakhand, and is higher in all the three states so far.
Rise in arrival weighs on mustard seed in Jaipur
Price of mustard seed were down in Jaipur, Rajasthan due to a rise in arrivals amid sluggish demand from domestic oil millers and crushers. In Jaipur, the benchmark market, the oilseed was sold at 4,060-4,070 rupees per 100 kg, down 20-30 rupees. Arrivals in Rajasthan today were estimated at 100,000 bags (1 bag = 85 kg), up from 85,000 bags on Saturday. Demand for mustard oil from overseas buyers, however, cushioned fall in prices.
Romania prospects of corn production and exports in 2018/19.
Romania prospects of corn production and exports in 2018/19.
Brazil exports of soybean to China in May smash record
Brazil exports of soybean to China in May hit 9.76 million mt, almost 80% of the total volume exported and a monthly record. The figure is equivalent to around 160 cargoes of soybeans and eclipses the previous record by more than 1.4 million mt, set in April 2017 last year. Brazil total exports for May, released Monday, reached 12.35 million mt.