NCDEX coriander up over 1% on low production view:

Ram Gopal Yadav (7 years ago)

Futures contracts of coriander on NCDEX were up over 1% due to expectations of lower production this year. Traders see production of coriander falling around 30% on year to 600,000-650,000 tn in the current year as low prices during the sowing season led to a decline in acreage.

NCDEX mustard up on procurement report, soybean cues

Ram Gopal Yadav (7 years ago)

Futures contracts of mustard seed rose as reports of government procurement of the rabi oilseed improved market sentiment. NAFED was likely to procure around 500,000 tn of new mustard crop in Rajasthan. Gains in soybean contracts are also seen supporting mustard prices. Soybean and mustard contracts take cues from each other as these are used as substitutes.

NCDEX soybean up 3% on firm demand from oil millers

Ram Gopal Yadav (7 years ago)

Soybean futures on NCDEX hit 3% upper limit due to firm demand for the oilseed from millers and stagnant arrivals. The most active February soybean contract on NCDEX traded at 3,653 rupees per 100 kg, up 3% from the previous close. All-India arrivals of the oilseed were, however, estimated to be steady at 200,000 bags (1 bag = 100 kg). Downward revision of soybean production in Madhya Pradesh in 2017-18 (Jul-Jun) at 5.3 mln tn against 6.9 mln tn estimated in the first advance estimate is seen supporting prices of the oilseed.

Madhya Pradesh cuts 2017-18 soy crop view to 5.3 mln tn

Ram Gopal Yadav (7 years ago)

Madhya Pradesh has lowered its estimate for soybean production in 2017-18 (Jul-Jun) to 5.3 mln tn from 6.9 mln tn projected in the first advanced estimate. A downward revision in soybean production was mainly due to a dry spell during the growth stage that adversely affected the yield. Soybean yield declined substantially to 1,062 kg per ha compared with 1,231 kg in 2016-17.