German rapeseed crop forecasts cut after dryness.
Ram Gopal Yadav (7 years ago)

The cooperatives cut their forecast of Germany’s 2018 winter rapeseed crop to 4.05 million tonnes, down 5.0 percent on the year. The reason is the high temperatures and lack of rain in a large part of Germany in the past weeks. In May, the association had forecast 2018 a winter rapeseed crop of 4.12 million tonnes.

Canadian mustard looking to rebound, if weather cooperates.
Ram Gopal Yadav (7 years ago)

Canadian mustard acres may be up on the year, but key growing regions missed out on recent rain and will need more moisture as the season progresses in order to prevent a repeat of 2017’s drought stricken crop. Statistics Canada’s acreage report released at the end of April pegged intended mustard area at 438,000 acres, which would be up from the 385,000 seeded in 2017. Yields were hurt by drought, and total production only came in at 122,000 tonnes in 2017. Recent rains in Saskatchewan brought much needed moisture to many areas but some key mustard growing regions in the southwest missed out on the moisture. If the growing conditions come around, there could be lots of mustard (in 2018).

Uttarakhand kharif soybean area down 11% on year
Ram Gopal Yadav (7 years ago)

Uttarakhand’s kharif soybean acreage was at 8,000 ha, down 11.1% on year. The normal area of soybean for the entire kharif season in Uttarakhand is 12,700 ha. The state’s soybean production is quite low compared to the other major producers such as Madhya Pradesh, Maharashtra and Rajasthan. Sowing of soybean is yet to begin in those states and in other parts of the country.

NCDEX soybean hits 4-month low on weak meal, oil demand
Ram Gopal Yadav (7 years ago)

NCDEX June soybean contract hit a four-month low of 3,517 rupees per 100 kg because of sluggish demand for the oilseed from oil and meal producers. The most-active June futures were down 1.3%. In Indore, the benchmark market, prices were down 25 rupees. Weakness in contracts on CBOT also weighed on domestic soybean futures.

Soybean futures are currently 9 cents lower.
Ram Gopal Yadav (7 years ago)

Nearby soybean meal was down $1.10/ton and soy oil was up 7 points. The USDA weekly Export Sales report showed old crop sales of 273,400 MT, below pre-report ideas of 300,000-600,000 MT. However, new crop bookings totaled 771,600 MT and were above the top end of trade ideas. After the Friday close, USDA reported April soybean crush of 171.62 million bushels, with an implied oil yield of 11.45. That was close to trade estimates.

Jaipur mustard seed up on low supply, hign demand
Ram Gopal Yadav (7 years ago)

Prices of mustard seed rose in Jaipur due to a fall in arrivals and higher demand from domestic oil millers and crushers. In Jaipur, the oilseed was sold up 30-40 rupees.Arrivals in Rajasthan were slightly down. Ongoing procurement of mustard seed by the Haryana, Madhya Pradesh and Rajasthan state governments at the minimum support price of 4,000 per 100 kg also supported prices.

India mustard crushing unchanged on month at 900,000 tn in May.
Ram Gopal Yadav (7 years ago)

Mustard oil mills across the country crushed 900,000 tn of the oilseed in May, unchanged from the previous month. New crop arrivals begin in February, and gain momentum by March. Arrivals remain in full swing till May and start dwindling from June. During Mar 1-May 31, total supply of mustard seed were estimated at 4.0 mln tn. Arrivals in Rajasthan, the largest grower, was at 1.3 mln tn, Uttar Pradesh at 565,000 tn, Madhya Pradesh and Chhattisgarh together at 235,000 tn. Crushing of mustard may lose steam in June as arrivals would start declining. For 2017-18 (Jul-Jun), India’s mustard output is seen at 7.2 mln tn, up from 6.9 mln tn harvested in the previous year. Mustard output in the country is seen higher due to better yields in key growing regions because of favourable weather.