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.
Pre-monsoon showers bring smiles on faces of paddy growers.
Pre-monsoon showers bring smiles on faces of paddy growers.
Soybean futures are currently 9 cents lower.
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.
Mustard seed up in Jaipur on demand from stockists
Prices of mustard seed rose in Jaipur owing to renewed demand from domestic stockists and oil millers after prices hit a one-week low. A fall in arrivals also supported prices. Arrivals in Rajasthan were estimated at 110,000 bags (1 bag = 85 kg) today, compared with 140,000 bags. However, weak export demand for mustard meal capped gains. On NCDEX, the most-active June contract was at 3,923 rupees per 100 kg, up 0.4%.
India soybean settles higher, in line with CBOT.
On National Commodity and Derivatives Exchange, the most-active June contract of soybean closed 0.5% higher, tracking gains on Chicago Board of Trade. Soybean prices on the US bourse rose due to bargain buying, and as a truckers’ strike in Brazil. Mustard futures on NCDEX closed 1.3% higher due to improved purchases by oil millers at lower prices. Refined soyoil on NCDEX and crude palm oil on MCX traded lower due to lukewarm demand in spot markets.
India wheat remains weak on higher supply, reduced offtake on June 01.
India wheat remains weak on higher supply, reduced offtake on June 01.
Russian wheat prices witnessed weak sentiments.
Russian wheat prices witnessed weak sentiments.
Thailand mills buy Canadian, Australian wheat for august shipment.
Thailand mills buy Canadian, Australian wheat for august shipment.
Black Sea wheat prices continued sinking during last week.
Black Sea wheat prices continued sinking during last week.
Jordan tenders to buy 120,000 tonne wheat and 120,000 tonne barley.
Jordan tenders to buy 120,000 tonne wheat and 120,000 tonne barley.
Iran sanctions deal a blow to basmati, tea traders here.
Iran sanctions deal a blow to basmati, tea traders here.
Bangladesh sign of growing world rice supplies.
Bangladesh sign of growing world rice supplies.
Punjab farmers face Rs 1,000 per acre rise in paddy input cost as diesel rates up.
Punjab farmers face Rs 1,000 per acre rise in paddy input cost as diesel rates up.
China ethanol could lift grain prices.
China ethanol could lift grain prices.
Ghana gets Mexican govt support to fight aflatoxin in maize.
Ghana gets Mexican govt support to fight aflatoxin in maize.
Zambiais still poised to record a good maize harvest this year.
Zambiais still poised to record a good maize harvest this year.
Argentina imports of soybean to double, stocks to fall 40%
Argentina’s imports of soybeans are expected to reach 4 million mt this crop year, double the previous volume.
NCDEX soy down as area may rise, monsoon progress good
Soybean contracts on NCDEX fell on expectation that farmers may sow more of the oilseed this kharif season lured by better returns and government procurement. The most-active June contract was down 1.1%. Meanwhile, the crucial southwest monsoon current has advanced into interior parts of Karnataka and will advance further into other states, boosting sowing prospects.
NCDEX maize down more on high supply, weak demand om 31 May.
NCDEX maize down more on high supply, weak demand om 31 May.
Uttar Pradesh govt looking to boost production of millets, maize.
Uttar Pradesh govt looking to boost production of millets, maize.