Cotton Corp to auction 30,000 bales cotton on 25 May.
Gujarat Key meeting on fate of groundnut procured at MSP
The huge stock of 8.5 lakh tonnes of groundnut procured at the minimum support price (MSP) of Rs 900 per 20kg has become an burden for the state government as it is finding it difficult to sell it to oil millers or in the open market. In addition to this, there is also 1 lakh tonned of last year’s stock carried forward, the quality of which has already deteriorated. In order to resolve issues that have been pending for long, the state government and officials of the nodal agency for groundnut procurement, National Agriculture Cooperative Marketing Federation of India (Nafed), have organized a meeting with members of the Saurashtra Oil Millers Association (SOMA) in Gondal. The main agenda was to convince the oil millers to purchase the huge stock for crushing.
Cotton Corp hopes to export 100,000 bales in year ending September.
Cotton Corp hopes to export 100,000 bales in year ending September.
Govt may up soybean 2018-19 MSP by 340 rupees to 3,390 rupee/100 kg
The government is likely to fix the minimum support price for 2018-19 kharif soybean at around 3,390 rupees per 100 kg. Last year, the government had set the support price at 3,050 rupees per 100 kg. The recommended price is in line with the Centre’s promise of keeping the support price of crops at 1.5 times the cost of production. In October, the government had announced the minimum support price for most rabi crops at over one and a half times the cost involved. The finance minister had said the government will extend this formula to all other crops.For 2017-18 (Jul-Jun), the government in its third advance estimate has pegged soybean output at 10.9 mln tn.
India coffee exports during Jan 1 – May 23.
India coffee exports during Jan 1 – May 23.
India rice basmati rise on increased buying on 25 May.
India rice basmati rise on increased buying on 25 May.
Philippine needs to import more rice this year.
Philippine needs to import more rice this year.
US corn secures 140,000 mt of private export to Saudi Arabia.
US corn secures 140,000 mt of private export to Saudi Arabia.
U.S corn planting progress.
U.S corn planting progress.
CBOT wheat up on crop damage worry in major growers.
CBOT wheat up on crop damage worry in major growers.
Ethiopian retenders for third time to buy imported wheat.
Ethiopian retenders for third time to buy imported wheat.
Russian wheat shipments to Indonesia increased threefold.
Russian wheat shipments to Indonesia increased threefold.
Warm spell adds to strain on EU rapeseed crops
A warm, dry spell in Europe may reduce harvest yields for rapeseed, the continent’s most important oilseed crop, by adding pressure on plants that have endured adverse weather since sowing. Hot, dry spell affected flowering, caused too fast growth. Dims hopes of yields offsetting German, Polish area fall. France’s farm ministry estimates the rapeseed area at 1.50 million hectares, up 6.3 percent on last year. But 2017 also saw a record national yield of 3.8 tonnes per hectare.
Argentina soybean crush rate reaches 3.36 million mt in April
Argentina crushed 3.36 million mt of soybeans in April, down 16% from the 4 million mt crushed in April 2017.
Chinese soybean stocks hit four-year high as crush margin slumps
Soybean stocks in China climbed to 7.73 million mt at the end of May, the highest level seen in over four years.
India maize futures rise further on spot demand on 23 May.
India maize futures rise further on spot demand on 23 May.
Maize prices up in Gulabbagh on export demand.
Maize prices up in Gulabbagh on export demand.
EU corn-buying spree is boosting rare trade with South Africa.
EU corn-buying spree is boosting rare trade with South Africa.
CBOT soy at 3-wk high; US-China trade tensions ease
The July futures contract of soybean hit a three-week high of $10.3575 a bushel on the CBOT as US-China trade concerns eased, raising hopes of improved exports of the oilseed from the US. The most active July contract was at $10.32 a bushel, up 0.2%. China’s imports of soybean in April declined 13.7% on year to 6.9 mln tn. US CBOT soyoil also rose to six-week high of 31.75 cents a pound on Tuesday tracking gains in soybean.
NCDEX soybean slightly up on low arrivals, CBOT cues
Soybean contracts on the NCDEX were slightly up because of lower arrivals in the spot market and tracking gains in bellwether contracts on the CBOT. The most-active June contract on the NCDEX was up 12 rupees. Arrivals of soybean in Madhya Pradesh, the key market for the oilseed were down. Soybean in Indore, the benchmark market for the oilseed, it was selling at 3,750 rupees per 100 kg, up 5-10 rupees from previous day.