NCDEX coriander falls as short positions added

Ram Gopal Yadav (7 years ago)

Futures contracts of coriander on NCDEX fell as investors added short positions after prices hit an over seven-month high. Prices also slumped on expectations of a rise in arrivals in spot markets as the bourse has marked 1,240 metric tonne of coriander for staggered delivery in December. The most-active January contract of coriander on NCDEX was down 0.4% from previous close.

Coriander prices up in Kota on higher local demand

Ram Gopal Yadav (7 years ago)

Prices of coriander rose in Kota, Rajasthan because of a rise in domestic demand from retailers and as acreage in Gujarat is expected to decline this season. Prices also gained because imports from Russia and Bulgaria are expected to decline as global prices rose to $420 per metric tonne from $400 in August, making overseas purchases less attractive.

U.S. soybean exports top another record 2.6 billion bushels in 2016-17 markets year

Ram Gopal Yadav (7 years ago)

Government data shows that U.S. farmers again exported a record number of soybeans, shipping 2.6 billion bushels to international buyers in the 2016-17 marketing year. Valued at more than $28 billion, the milestone represented the second year in a row that exports exceeded 60 percent of U.S. soybean production. However, the United Soybean Board warns that record U.S. production is no longer enough to ensure markets for U.S. farmers.

China tightens quality standards of soybean imports from the US

Ram Gopal Yadav (7 years ago)

China, the world’s top soybean buyer, reduce the amount of foreign material allowed in shipments of US soybeans as of January 1. US soybean shipments arriving at Chinese ports containing up to 1 per cent of foreign material would be expedited while shipments with more than 1 per cent could be held back for testing. Quality specifications for No 2 yellow soybeans – the variety most common in US export contracts – allow for up to 2 per cent foreign material. China requested the change in specifications due mostly to concerns over weed seeds in US cargoes.

Rains improve conditions in Argentina

Ram Gopal Yadav (7 years ago)

Rains in key regions of Argentina ranged from 1.1 inches to 3.9 inches during this weekend. Nearly half of the total surface in Argentina is under dry conditions, especially in the South of Córdoba, South of Santa Fe, and Northwestern Buenos Aires.

NCDEX soybean down on profit booking post 2-week high.

Ram Gopal Yadav (7 years ago)

The January contract of soybean on the NCDEX fell as investors booked profits after prices hit a two-week high. The most-active January contract of soybean on the NCDEX was down 0.5% from the previous close. Prices had risen in the last four trading days due to lower arrivals in wholesale markets. Losses in futures contracts of soybean on the CBOT further weighed on prices of the oilseed on the NCDEX. The March contract of soybean on the CBOT hit an over three-month low of $9.6250 earlier as concerns over dry weather in Argentina, the third largest producer of soybean, eased after the country’s main farm belt received rainfall during the weekend.