CBOT soy at 2-month low on rain in US key growing area

Ram Gopal Yadav (6 years ago)

The July futures contract of soybean hit a two-month low of $9.9225 a bushel on the CBOT because of normal-to-above normal rains in midwest US, the key growing region for the oilseed. The most active July contract was at $9.9525 a bushel, flat from the previous close. Uncertainty over trade talks between the US and China is also seen weighing on prices.

US Soybean growing conditions favorable in june.

Ram Gopal Yadav (6 years ago)

June is shaping up to be a good month for farmers across the Midwest. Forecasts for the next two weeks show normal to above-normal rainfall for the majority of the Midwest. Over the next two-week period there will be a wetter pattern than we’ve had the past two weeks.

Mustard seed down in Jaipur on low buys from millers

Ram Gopal Yadav (6 years ago)

Prices of mustard seed were down in Jaipur, as demand from domestic oil millers and crushers was subdued. In Jaipur, the oilseed was sold at 4,125-4,130 rupees per 100 kg, down 20-30 rupees from previous close. Demand from domestic buyers is subdued as they have already procured the oilseed at lower rates. Lower arrivals, however, cushioned the fall in prices.

Canadian mustard looking to rebound, if weather cooperates

Ram Gopal Yadav (6 years ago)

Canadian mustard acres may be up on the year, but key growing regions missed out on recent rain and will need more moisture as the season progresses in order to prevent a repeat of 2017’s drought stricken crop. Statistics Canada’s acreage report released at the end of April pegged intended mustard area at 438,000 acres, which would be up from the 385,000 seeded in 2017. Yields were hurt by drought, and total production only came in at 122,000 tonnes in 2017. Recent rains in Saskatchewan brought much needed moisture to many areas but some key mustard growing regions in the southwest missed out on the moisture. If the growing conditions come around, there could be lots of mustard (in 2018).

German rapeseed crop forecasts cut after dryness

Ram Gopal Yadav (6 years ago)

The cooperatives cut their forecast of Germany’s 2018 winter rapeseed crop to 4.05 million tonnes, down 5.0 percent on the year. The reason is the high temperatures and lack of rain in a large part of Germany in the past weeks. In May, the association had forecast 2018 a winter rapeseed crop of 4.12 million tonnes.

India’s May oilmeal exports drop 33 pct y/y.

Ram Gopal Yadav (6 years ago)

India’s oilmeal exports in May fell 33 percent from a year ago to 97,036 tonnes as shipments of soymeal and rapeseed meal dropped. The country exported 41,452 tonnes of soymeal in the month, down from 48,900 tonnes a year ago. The country’s rapeseed exports fell 18.3 percent to 45,808 tonnes in May. During April-May 2018, oilmeals export to Vietnam fell to 51,568 tonnes from 59,578 tonnes in the year-ago period.

NCDEX coriander down on weak demand; unchanged in spot

Ram Gopal Yadav (6 years ago)

Futures contracts of coriander were down on the NCDEX because of weak demand both in domestic and overseas markets. The most active June contract ended down 0.6% at 4,280 rupees per 100 kg. In coming days, prices may fall towards 3,800 rupees per 100 kg due to high inventories and lack of buyers. In the benchmark Kota market, the badami variety was sold at 4,900 rupees per 100 kg and the eagle variety was sold at 5,100 rupees, both steady. The arrivals of coriander in Baran and Kota were pegged down by 1,000 bags.