Procurement target unlikely to be met as buying in U.P., Rajasthan, and M.P. lag behind The wheat procurement is far away from the government’s “official” procurement target of 372.9 lt fixed for this year Wheat procurement reached 25.30 million tonnes (mt) as of May 12 against 25.682 mt a year ago, official data show. This …
Continue reading “Wheat purchases top 25 million tonnes but 1.5% lower than last year”
For the first time, Russia has shipped a batch of grain to India from the Baltic Sea ports, according to the Federal State Budgetary Institution “Center for Grain Quality Assessment”. According to the report, in the period from January to May 2024, the specialists of the St. Petersburg branch of the Federal State Budgetary Institution …
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Malaysian palm oil futures closed higher onMonday as the market tracked strength in rival oils at Dalian and Chicago Board of Trade, while the market awaited export data for further cues. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange increased 58 ringgit, or 1.52%,to 3,867 ringgit ($818.07) a metric …
Continue reading “Palm ends up on support from rival oils, market waits for export data”
SPECULATORS furiously pitched short positions in Chicago corn and soybeans last week just after a big short squeeze in wheat, as pests raid Argentina’s corn crop and rains devastate soybeans in southern Brazil. Wet weather also slowed the pace of US planting during what is normally the most active period for field work, but top …
Continue reading “Funds race out of CBOT corn, soy shorts as weather worries build”
KUALA LUMPUR, May 13 — Analysts expect the crude palm oil (CPO) stockpile to increase in the coming months, potentially exerting downward pressure on prices. In their research notes today, analysts from Maybank Investment Bank Bhd (Maybank IB), Hong Leong Investment Bank Bhd (HLIB) and Public Investment Bank Bhd forecast CPO inventories to continue rising, …
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AHMBD:PALM 915SUP 925SOY 921SUN 941COT 971
India’s soybean meal exports increased by 8.8% during October-April 2023-24, reaching 15.23 lakh tonnes due to heightened demand from countries like Iran and Bangladesh. Production saw marginal growth, while domestic consumption declined. Soybean arrivals decreased slightly, but crushing activity and direct consumption rose. Soybean stocks were lower, prompting a revision of import projections to 6 …
Continue reading “Soybean Meal Exports Surge Amidst Higher Global Demand”
NEW DELHI (Reuters) – Wheat stocks in India’s government warehouses on May 1 were down 10.3% year on year to their lowest since 2008 after two years of low crops prompted the sale of record volumes to boost domestic supplies and lower local prices. At the start of the month wheat reserves in state stores …
Continue reading “Indian wheat stocks at 16-year low after record state sale”
INR 83.51-0.02EUR 1.0787POUND 1.25573JPY 156.40CHF 0.90857AUD 0.66042CNY 7.2375Gold 2342.77Silver 28.369BRENT CRUDE 83.43DOLLEX 105.26483M USD SOFR 5.322386M USD SOFR 5.288541Y USD SOFR 5.15198Range for the day: 83.40 – 83.60INR shall trade sideways as the impact of a relatively weaker dollar is offset by rise in oil prices and increased bids from importers. Oil prices following an …
9:03#KLC+13(JULY3881)ECBOT:SOYOIL-0.31(JULY44.84),ML-1.1,SD-5.3CHINA:SOYOIL+84,ML+14,SD+54,RBD+146INR 83.51 RM 4.7270WTI 78.82 BRENT 83.43