INR Open 83.49/Current 83.51EUR 1.07708POUND 1.2525JPY 155.79CHF 0.90665AUD 0.65972CNY 7.2336Gold 2356.75Silver 28.094BRENT CRUDE 82.53DOLLEX 105.31823M USD SOFR 5.321986M USD SOFR 5.284311Y USD SOFR 5.13893Range for the day: 83.40 – 83.60The local unit to open weaker as dollar gains ahead of US CPI data release. Moreover, the tensions between Washington and Beijings weighs on the Yuan …
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9:03#KLC+72(3881)ECBOT:SOYOIL+0.21,ML-3.5,SD-3.5CHINA:SOYOIL+120,ML+16,SD-29,RBD+118INR 83.48 RM 4.746WTI 77.72 BR 82.51
Indian millers, traders feel the heat of growers holding back wheat as prices rule above MSP
Despite higher production, arrival of the foodgrain is slack in markets Wheat prices have tended to stay elevated despite harvest and arrivals picking up. India’s wheat production this year is seen higher than the past two years but farmers holding back their produce expecting higher prices is affecting millers and traders. “Though the Ministry of …
El Nino to end by June, La Nina seen in second half of 2024, says U.S. forecaster The El Nino weather pattern should fade out by June but could be replaced by the La Nina phenomenon by the second half of the year, a U.S. government forecaster said on Thursday. There is a 49% chance …
Argentina Soy Forecast May Be Cut Due to Slow Harvest
The soy harvest is picking up but continues to trail the average for this time of year by 13 percentage points, the Buenos Aires Grain Exchange said in a weekly report.
Palm Oil Reserves Unexpectedly Rise in Malaysia on Higher Output
Palm oil stockpiles in Malaysia surprisingly climbed in April after shrinking for five months as production in the world’s second-biggest grower swelled more than expected and exports declined. Inventories advanced 1.9% from a month earlier to 1.74 million tons, according to data released by the Malaysian Palm Oil Board on Friday. That’s above estimates in …
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Soyoil jumps on bets US tariffs to include Chinese cooking oil
(May 11): Soybean oil futures surged by the most since July as traders bet that Chinese used cooking oil may be included on the list of tariffs expected to be announced by the US. The Biden administration is set to raise tariffs on goods produced in China such as electric vehicles as early as next week, Bloomberg reported …
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US Cash Grains-Corn and soy basis bids fall as farmers sell
Basis bids for corn and soy fell in the U.S. Midwest on Friday on farmer selling as futures rose following the U.S. Department of Agriculture’s monthly supply and demand report, dealers said. * U.S. corn and soybean supplies are due to rise in the coming year as farmers are expected to harvest another large crop …
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At 127.6 lakh tonnes, wheat arrivals in Punjab mandis surpass last yr procurement figures
Last year, on the corresponding day, the total arrival had stood at 123.20 lakh tonnes. This time, the state is expecting a bumper crop with the total production expected to touch 175 lakh tonnes. With 127.61 lakh tonnes of wheat having arrived in Punjab’s mandis till Thursday (May), the figures have already surpassed last year’s …
Adani Wilmar bets big on foods in growth push
Looks to double revenue in 3-4 years; focus to remain on branded staples In FY24, the food and FMCG segment achieved a turnover of nearly Rs 5,000 crore, marking a two-fold increase in two years, he added. Consumer goods company Adani Wilmar, best known for its Fortune brand of edible oils, is banking on its …
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