Soybean prices in Indore rose due to increase in the incentive on export of soymeal by 2 percentage points to 7% under the Merchandise Export Incentive Scheme. Futures contracts of soybean on NCDEX traded up following the increase in export incentives on soymeal. The most-active January contract traded up 0.4% from previous close.
CBOT soybean rises on crop concerns in Argentina
Futures contracts of soybean rose on the CBOT due to concerns over dry weather conditions in Argentina. The most-active January soybean contract on CBOT was at $10.1150 per bushel, up 0.3% from the previous close.
Brazil’s farmers invest in soybeans, not corn crops
Brazilian producers have already planted 92% of the estimated area for soybeans in the 2017/2018 harvest. The number surpasses 90% of last year and 87% of the average of five years.
Indore soybean down tracking palm oil, CBOT soybean
Soybean prices in Indore were down due to weakness in the soybean contracts on the CBOT and global palm oil prices. Palm oil prices globally were down because of expectations of a higher output in Malaysia in November. The most active January futures contract of soybean on the NCDEX ended down 0.4% from the previous close.
Soybeans up for third session on Argentina dryness
Chicago soybean futures rose for a third straight session with dry weather in Argentina and strong U.S. demand buoying the market. Rainfall over the weekend was limited in Argentina, the top global soymeal and soyoil exporter, and showers were expected to be limited this week.
MY 2017/18 India Soybean Production Unchanged at 10 MMT
USDA pegs India year to Sept soybean crop at 10 million metric tonne, down 5% YoY. India soybean over 10.6 million ha for 2017-18, lower than 11.4 million ha last year. Average market prices soybeans last 12 months have softened 16 % to INR 27,000/metric tonne.
Indore soybean up on talk of meal export incentive
Soybean prices in Indore were up because of talk of export incentives on soymeal. Export incentives are likely to increase demand for the oilseed due to improved crushing. Gains in soybean contracts on the CBOT are also seen supporting the rise in prices of the oilseed. The most active January futures contract of soybean on the NCDEX traded up 1.9% from the previous close.
India Indore soybean rises on improved demand
Prices of soybean rose in Indore, Madhya Pradesh’s benchmark market, due to improved demand from oil millers after government hiked import duty on refined soyoil. However, high arrivals of soybean in spot markets prevented any further rise in prices. Along with soybean, prices of mustard seed also rose in the benchmark market of Jaipur. Prices rose due to a rise in demand from domestic crushers and stockists along with a fall in acreage of the crop.
US Soybean November exports for Brazil 2.143 MMT
Soybean exports during November for Brazil totaled 2.143 MMT, which was 13.85% lower than last month but more than 6.5 times larger than Nov 2016. This extra supply in the world market has been the main reason US shipments lag year ago.
Brazilian Soy planting pace update by 01 Dec 2017
Brazilian Soy planting pace update by 01 Dec 2017; 90.5% ( 91.4% of last season ) as per SAFRAS & Mercado. In Mato Grosso, 99% vs 100%. Under normal conditions from now on,tentatively forecast a Soy new-crop size around 110 Million T vs record 114 of 16/17.
Soybean prices down in Indore on weak demand for meal
Prices of soybean fell in Indore, Madhya Pradesh owing to subdued demand for soymeal, a derivative of soybean. A decline in supply, however, cushioned a fall in prices.
India NCDEX soybean up on bargain buys; spot soy down
Prices of soybean fell at the benchmark Indore market in Madhya Pradesh due to low buying at high prices. High supply in markets weighed on soybean prices. Improved demand from domestic oil millers and crushers lifted prices at Jaipur in Rajasthan, thereby, supporting contracts on the NCDEX. Prices rose on the Malaysian bourse due to bargain buying.
Soybean down in Indore as high prices dent demand
Soybean prices fell today in Indore, the benchmark market, as high prices of the oilseed led to subdued demand. The most active January futures contract of soybean on the NCDEX traded up 0.8%.
CBOT soyoil up tracking gains in CPO contracts
Futures contracts of soyoil on the CBOT was up tracking gains in the crude palm oil contracts on the Bursa Malaysia Derivatives. The prices of soyoil and crude palm oil generally move in tandem becausen both are used in preparation of vegetable oil and bio-fuel. The most active January contract of soyoil on CBOT traded at 34.44 cents per pound, up 1.1% from the previous close.
NCDEX soybean down on CBOT cues, ample supply
Futures contracts of soybean extended losses on NCDEX tracking a fall in the soybean and soyoil contracts on the CBOT. The most active December contract of soybean on NCDEX traded down 0.5% from the previous close. Soy contracts on CBOT fell due to easing of concerns over dry weather in major producer Argentina.
Argentina authorizes new herbicide-resistant GMO soybean seeds
Argentina authorized the use of genetically modified soybean seeds resistant to herbicides other than glyphosate, as the European Union (EU) debates whether to extend the license of weed-killers containing the ingredient. Argentina shipped 7.5 million tonnes of soybean meal to European countries in the first nine months of 2017. The country’s producers are expected to plant 16.8 million hectares of soybeans for the 2017-18 crop.
Soybean market eyes argentina’s weather
The market attention has been slowly shifting to South America, where a growing crop is just emerging, and planting is finishing up. Weather forecasts in South America are a bit wetter, especially in Argentina for the next 14 days. Now precip is forecast above normal in Argentina the next 7 days, with the 8-14 day forecast for more precip as well (closer to average rather than below average). That is slightly negative and is pressuring soybeans. Temps still forecast mostly normal across both Argentina and Brazil for the next 14 days, which keeps the forecast relatively non-threatening.
USDA sees record-high U.S. soy acres in 2018-19
U.S. farmers are likely to plant a record amount of land with soybeans in 2018 and also boost the area devoted to most other major crops.
China’s Appetite for Soybeans Continues to Grow
New data on Chinese export demand for soybeans released shows no slowing down in demand for U.S. soy protein. Figures released show China continues to be a good customer of the American soybean farmer. To date imported close to 79 million metric tons of soybeans. That is up from the same period last year when they imported 66.7.
NCDEX soybean futures end down on profit booking
Futures contracts of soybean gave up early gains to close lower on the NCDEX owing to profit booking. The most-active December contract ended down 0.5% from the previous close. Prices rose earlier on talks of an increase in incentive on export of oilmeals to 10% from 5%.