Rupee gains, strengthens by 3 paise and opened at 74.18Rupee has started with strength against the dollar today. Rupee has opened stronger by 4 paise today against the dollar. The rupee has opened at 74.18 against the dollar today. On the other hand, the rupee strengthened by 3 paise to close at 74.22 against the dollar in Thursday's trade.Sensex fell, 32 points broke openToday the stock market opened with a fall. Today the BSE Sensex fell by about 31.84 points and opened at the level of 55917.26 points. On the other hand, the Nifty of NSE opened with a decline of 4.40 points at the level of 16632.50 points.
U.S. EXPORT SALES FOR WEEK ENDING 08/19/2021Soybeans : Net sales of 75,100 MT for 2020/2021 were up 11 percent from the previous week and up noticeably from the prior 4-week average. Increases primarily for China (90,800 MT, including 68,000 MT switched from unknown destinations and decreases of 1,500 MT), the Netherlands (66,000 MT, including 60,000 MT switched from unknown destinations), Taiwan (21,100 MT), Indonesia (19,700 MT, including decreases of 300 MT), and Vietnam (5,900 MT, including decreases of 100 MT), were offset by reductions primarily for unknown destinations (131,000 MT). For 2021/2022, net sales of 1,750,000 MT were primarily for China (934,500 MT), unknown destinations (587,900), Mexico (148,600 MT), Taiwan (26,500 MT), and Indonesia (15,400 MT). Exports of 260,100 MT were up 1 percent from the previous week and 23 percent from the prior 4-week average. The destinations were primarily to Mexico (76,600 MT), China (71,200 MT), the Netherlands (66,000 MT), Indonesia (12,000 MT), and Colombia (7,100 MT).
U.S. EXPORT SALES FOR WEEK ENDING 08/19/2021COTTON : Net sales of 245,100 RB for 2021/2022* were primarily for El Salvador (67,100 RB), Turkey (61,100 RB), Pakistan (35,000 RB), Honduras (26,500 RB), and Vietnam (14,900 RB, including 5,200 RB switched from China, 300 RB switched from Japan, and decreases of 1,100 RB). For 2021/2022, net sales of 67,900 RB were primarily for El Salvador (48,000 RB) and Honduras (18,900 RB). Exports of 201,700 RB were primarily to Pakistan (42,700 RB), Turkey (29,700 RB), Vietnam (27,200 RB), China (26,000 RB), and Mexico (20,900 RB). Net sales of Pima totaling 14,300 RB were primarily for India (7,600 RB), China (2,200 RB), Turkey (1,700 RB), Peru (1,400 RB), and Thailand (1,000 RB). Exports of 8,000 RB were primarily to China (1,800 RB), Peru (1,500 RB), Honduras (1,400 RB), India (1,200 RB), and Bangladesh (600 RB). Optional Origin Sales: For 2021/2022, new optional origin sales of 8,800 RB were reported for Pakistan. The current outstanding balance of 8,800 RB is for Pakistan. Exports for Own Account: For 2021/2022, the current exports for own account outstanding balance of 4,800 RB is for China (4,700 RB) and Vietnam (100 RB).
Rupee strengthened by 3 paise and closed at 74.22 levelLike equity market, rupee's movement remained flat today. The rupee today strengthened by 3 paise to close at 74.22 against the dollar. The rupee had started on a strong note. Rupee opened stronger today by 3 paise against dollar.Sensex recovered from the fall, closed by increasing 5 pointsToday the stock market closed with a slight increase. Today, where the Sensex closed at the level of 55949.10 points with a gain of 4.89 points. On the other hand, Nifty closed at the level of 16636.90 with a gain of 2.20 points.
INDIA’S COTTON EXPORTS REMAIN RESILIENT WITH 75.71% INCREASE IN MAY 2021India is the one of the largest cotton exporters in the world. Exports of cotton yarn and fabrics export account for about 23 per cent of India’s total textiles and apparel export. As per a CCF Group report, in May 2021, India exported cotton yarn worth 101.1 kt a 75.71 per cent rise year-on-year and 12.95 per cent month-on-month increase.Bangladesh tops monthly yarn exportsOf India’s total yarn exports, shipments to Bangladesh increased to 37,642 mt in May 2021 from 30, 539,28 mt in April 2021. These accounted for 37 per cent of India’s total yarn exports. India’s yarn shipments to its second largest export destination China increased 12.95 per cent month-on-month to 21,750.91mt in May 2021 from 19294.2 mt in April 2021. These accounted for 22 per cent of India’s total global cotton yarn exports during the month.Three largest destinations for yearly exportsPeru remained the largest export destination for India during the year with an increase of 587.9 per cent overIndias cotton exports remain resilient with 75.71 increase in May 2021 previous year. Exports to Peru increased to 1,713.92 mt in May 2021 from 249.15 mt in May 2029. The second largest export destination was Bangladesh with an increase of 240.72 per cent over the previous year. India’s exports to Bangladesh increased to 37,642.25 mt in May 2021 from 11,047.82 mt in May 2020.The third largest exports destination for Indian cotton yarn was Portugal with an increase of 123.34 per cent in May 2021. Exports to the country increased from 2,476.91 mt in May 2020 to 5,532.03 mt in May 2021.Exports to China post 16.95 per cent yearly growthOn a year-on-year basis, shipments to China increased 16.95 per cent. Among products, exports of uncombed 8-25S/1 and combed 30-47S/1 yarn to China increased by 13.3 per cent and 23.1 per cent year-on-year respectively. In terms of month-on-month change, exports of combed 8-25S/1 declined by 36.38 per cent to 10,071 mt and those of 25-30S dropped by 34.09 per cent. Exports of combed 8-25S/1 and combed 25-30S/1 increased by 11.3 per cent and 10.5 per cent month-on-month respectively and declined by 9.1 per cent and 55.4 per cent year-on-year. Exports of combed 30-47S/1 declined the most by 57.1 per cent year-on-year with export volume of 2042mt.Despite the pandemic, India’s cotton yarn exports grew both on a year-on-year and month-on-month basis. Bangladesh, China and Portugal remained the largest export destinations for India with exports to China also registering a marked increase despite the political standoff between the two countries.
KUALA LUMPUR: Malaysian palm oil futures took early gains on Wednesday as markets eased a fall in August exports and focused on a tight supply outlook in global edible oils due to warmer weather in soybean producers South America and the US. did.Benchmark palm oil for delivery in November closed at 4,365 ringgit ($1,038.79) per tonne, up 62 ringgit, or 1.44%, on the Bursa Malaysia Derivatives Exchange. The contract has been extended for three out of four seasons.Malaysia's exports during August 1-25 fell between 12% and 13% compared to the same period in July, the cargo surveyor said.The Malaysian Palm Oil Association (MPOA)'s recent production growth forecast for August 1-20 raises high chances of Malaysia's production returning to its normal peak in the third quarter, a Singapore-based trader said."Better-than-expected palm oil production and weaker exports are a recipe for a bigger sell-off, but that is not and will not happen in the near future," said Paramalingam Supramaniam, director of Selangor-based brokerage Pelindung Bestari.Paramalingam said "very tight" supply conditions in top palm oil producer Indonesia and ambiguity with biodiesel mandates in the US drove prices up."Thus any downtrend or correction is an opportunity for bargaining," he said.The US Environmental Protection Agency is expected to recommend the White House reduce the federal biofuels blending mandate for 2021 to below 2020 levels, a blow to the biofuels industry, Reuters reported on Friday. gave information.Soy oil prices on the Chicago Board of Trade were down 0.2% after rising 3.4% in the previous session. Dalian's most active soy oil contract rose 2.1% and its palm oil contract rose 2.4%.Palm oil is affected by price fluctuations in related oils as they compete for share in the global vegetable oil market.
Strong opening of the rupee, opened 2 paise higher at 74.22Rupee has started with strength today. Rupee has opened stronger by 2 paise today against the dollar. Rupee opens today at 74.22 level against dollar.Sensex and Nifty fallToday the stock market opened with a fall. Today the BSE Sensex fell by about 8.05 points and opened at the level of 55936.16 points. On the other hand, the Nifty of NSE opened at a level of 16623.80 points down by 10.90 points.
Rupee weakens by 5 paise and closed at 74.24 levelWeakness in rupee against dollar has been seen. The rupee weakened by 5 paise to close at 74.24 against the dollar today. Rupee also started with weakness today. The rupee weakened by 1 paise against the dollar and opened at 74.20 today.
All India Weather Forecast for August 25, 2021Countrywide weather systemsA cyclonic circulation lies over Northeast Rajasthan and adjoining areas and from this cyclonic circulation, a trough is extending up to Telangana over West Madhya Pradesh and Vidarbha.Weather movement across the country during the last 24 hoursDuring the last 24 hours, light to moderate rain with isolated heavy falls occurred over Uttar Pradesh especially the northern parts of the state. Bihar, Sub-Himalayan West Bengal, Sikkim, Assam, Meghalaya and Telangana, Rayalaseema and Andaman and Nicobar Islands experienced heavy to very heavy rainfall at one or two places. Light to moderate rain occurred over Northeast India, parts of Odisha, Vidarbha, South Chhattisgarh, Tamil Nadu, Kerala, Lakshadweep and Jharkhand. Light rain occurred in isolated parts of Uttarakhand, Himachal Pradesh, Punjab, Haryana, Delhi NCR, Gujarat, West MP, Konkan and Goa and Kerala.Possible weather activity during next 24 hoursDuring the next 24 hours, light to moderate rain with isolated heavy falls is possible over Uttarakhand, foothills of Uttar Pradesh, Bihar, Sub-Himalayan West Bengal, Sikkim, Assam, Meghalaya and Arunachal Pradesh.Light to moderate rain is very likely over Northeast India, Andaman and Nicobar Islands, Rest of Uttar Pradesh, Himachal Pradesh, East Madhya Pradesh, Jharkhand, Kerala and Tamil Nadu.Light rain is possible over Telangana, Odisha, parts of Gujarat, Maharashtra and Karnataka.
Near Term Fundamentals Still Appear Positive for India’s Cotton CakeCotton cake ended the week on a positive note. The market was supported from limiting inventory in domestic markets and perceptions in context to stable export demand and lower ending stock estimates.Strength in the commodity was also due to reduction in the exchange warehouse stocks in the last few weeks. But the upside was capped because of weakening prices of cotton towards the end of the week. Week on week September cotton cake at NCDEX was marginally down by Rs.21 and the September contract of Cotton cake was seen trading between 3040 and 3200 for the week ending August 22. In Akola market, cotton cake was traded between Rs.3130-3175/qtl and in Kadi the traded offers stood between Rs.3075-3175/qtl.The broader view remains bullish considering the limited inventory of cotton seed in the country, in addition to brighter prospects for cotton exports, once the new season supply sets in. In physical markets traders and stockists are ready to buy at current offers since they are expecting another gain of Rs 200-250 per quintal in the physical markets by next month. As understood from the near term charts we expect September cotton cake to trade with an upward bias unless it closes below 3050 for at least two consecutive sessions. In case the contract gives comfortable closing above 3050, then chances for 3300-3350 shall increase in near future.The Indian Finance Ministry has recently rejected the appeal from a segment of the industry to remove the 10 percent import duty on cotton. Imports of cotton have significantly gone up in the last few years, even though India is the largest producer of cotton in the world. This factor shall continue supporting the cotton market in coming weeks. As a result cotton cake prices shall tend to maintain the upward trend. The rainfall distribution shall govern the sowing area outlook in coming weeks. As of now the rains are favorable for the sowing in Maharashtra but there are concerns in Gujarat where the rains need to improve now. The states of Maharashtra, Gujarat, Karnataka and Madhya Pradesh contribute nearly about 80 per cent of the area under cotton.CAI reduces cotton crop estimate: The Cotton Association of India (CAI) in its latest estimate has reduced its cotton crop forecast to 354.50 lakh bales, lower by 1.50 lakh bales in its July estimate for 2020-21, compared to last month, after lower production in Gujarat and Telangana. The total cotton production in 2019-2020 was around 360 lakh bales. Domestic consumption for 2020 – 21 i.e. October 2020 to September 30, 2021 is estimated to be higher by 5 lakh bales considering the high demand for cotton yarn. The CAI has also increased the exports estimates for the season to 77 lakh bales from its previous estimate of 72 lakh. This export estimate is higher by 27 lakh bales from 50 lakh bales in the previous year. The carryover stock at the end of the season i.e on September 30, 2021 is now estimated at 82.50 lakh. For India the USDA expects cotton production for this season at 29.0 million bales, 700,000 bales (2.5 percent) above 2020/21 as an improvement in yield more than offsets a slight decrease in area. For 2021/22, India’s area is forecast at 12.9 million hectares, and the projected yield at 489 kg per hectare, which is above the 3-year average.
Palm snaps two-day climbMalaysian palm oil futures eased on Tuesday, ending two straight sessions of gains on slow export shipments and industry estimates of an increase in August output. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed down 16 ringgit, or 0.37%, to 4,300 ringgit ($1,017.27) a tonne. Prices came off on long liquidation as Dalian prices rose sharply on Monday, a Kuala Lumpur-based trader said."Higher production expectations for August also weighed on (the market) and more selling could emerge if exports don't recover," the trader said.The Southern Peninsula Palm Oil Millers' Association forecast an 11.5% month-on-month rise in Aug. 1-20 production, traders said on Monday./Malaysia's exports during Aug. 1-20 fell 9.9% from the same period in July, cargo surveyor Societe Generale de Surveillance said on Monday.Investors are expecting August 1-25 shipments, which are expected to be announced on Wednesday, to remain low.The ringgit, palm's currency of trade, fell 0.07% against the dollar, making the commodity cheaper for holders of foreign currency. Dalian's most-active soyoil contract rose 1.2%, while its palm oil contract gained 1.9%. Soyoil prices on the Chicago Board of Trade were up 0.9%.Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.Refinitiv Agriculture Research said in a note on Monday that the contract might rise towards resistance at 4,360-4,380 ringgit a tonne this week, with support at 4,050-4,070 ringgit a tonne, rebounding from last week's sharp loss on bargain-buying.
Soyabeans rally as crop conditions drop, soyaoil prices riseCHICAGO: US soyabean futures rallied on Tuesday on eroding Midwest crop conditions and improving export demand, and as soyaoil prices rose another 3% amid further gains in crude oil markets.Corn futures also climbed on deteriorating crop conditions across the heart of the farm belt. Wheat prices firmed on spillover support from rising corn and soya, though gains were limited by a firm US dollar.Soybeans posted their strongest percentage gains in nearly two months on Tuesday after the US Department of Agriculture (USDA) reported a weekly decline in crop conditions and as severely hot weather was forecast for the heart of the Midwest crop belt.Demand for soya, meanwhile, was also improving. The USDA confirmed a private sale of US soyabeans to China in its first daily sales announcement since reporting a string of purchases by the top importer earlier this month."We're starting to sell beans to China again so all of a sudden our demand profile is picking up a bit," said Jack Scoville, analyst with the Price Group."The crop condition ratings yesterday showed a deterioration and ideas are that, with the weather developing how it is, we could see more," he said.Corn crop conditions dropped by more than expected in the past week, particularly in the eastern Midwest. The steepest drop was in Illinois, where the heat index was expected to climb above 100 Fahrenheit (37.8 Celsius) on Tuesday and Wednesday.Chicago Board of Trade November soyabeans jumped 42-1/2 cents to $13.35-1/4 a bushel by 12:10 p.m. CDT (1710 GMT), the contract's strongest percentage gain since June 30. December corn rose 9-1/2 cents to $5.45 a bushel, while CBOT December wheat added 1/4 cent to $7.33-3/4 a bushel. RegardsTeam SisAny query plz call 9111977771https://wa.me/919111677774
Weakness in rupee, 1 paise breaks open at 74.20Rupee has started with weakness today. Rupee has opened weak by 1 paise against the dollar today. Rupee opened today at 74.20 against dollar. On the other hand, the rupee got stronger against the dollar in Tuesday's trade. The rupee yesterday closed at 74.19 with a gain of 2 paise against the dollar.Sensex opened at record level with a gain of 104 pointsToday the stock market opened with a record high. Today the BSE Sensex rose by about 104.49 points to open at a record level of 56063.47 points. On the other hand, the Nifty of NSE opened with a gain of 33.40 points at a record level of 16658.00 points.
Rupee strengthens by 2 paise and closed at 74.19 levelRupee has seen strength today against the dollar. Rupee today closed at 74.19 with a gain of 2 paise against the dollar.Sensex rises further, closes by increasing 403 pointsToday the stock market closed sharply. Today, where the Sensex closed at the level of 55958.98 points, up by about 403.19 points. At the same time, the Nifty closed at the level of 16624.60 with a gain of 128.10 points.
CHICAGO: US soybean futures firmed on Monday in a modest recovery from last week’s two-month low as crude oil markets rebounded and lifted soyoil prices more than 3%, traders said.Wheat also gained as the US dollar softened and as weekly export inspections topped trade expectations.Corn was flat to weaker, capped by forecasts for a large US crop and worries over demand from biofuel producers after news last week that the Environmental Protection Agency would recommend reducing federal biofuel blending mandates.Grain and oilseed futures had fallen sharply last week as worries about global economic growth and rising coronavirus infections pressured broader markets. Crude oil and metals prices rose on Monday after bargain hunting drove equity markets higher across Asia and Europe.“The macros are taking the foot off the throat of commodities today, except for corn. Traders are still very nervous about the biofuel RINs and what kind of exclusions will be given to refiners,” said Mike Zuzolo, president of Global Commodity Analytics.Chicago Board of Trade December corn fell 2 cents to a one-month low of $5.35 a bushel by 11:32 a.m. CDT (1632 GMT). November soybeans gained 4-1/4 cents at $12.95 a bushel.CBOT September wheat rose 7-1/2 cents to $7.21-3/4 a bushel. The US Department of Agriculture (USDA) said on Monday 657,854 tonnes of US wheat were inspected for export last week, higher than expected. Corn and soybean inspections were in line with trade forecasts.
Palm oil ends over 1pc higherKUALA LUMPUR: Malaysian palm oil futures reversed early losses on Monday, tracking sharp gains in rival oils and crude futures, but expectations of a buildup in August stockpile capped gains.The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange closed 58 ringgit, or 1.36%, at 4,323 ringgit ($1,023.44) a tonne, after declining 2.4% earlier in the day.Prices recovered on fresh fears about rising COVID-19 cases spreading from some estates to mills, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.Sentiment were hit by the Southern Peninsula Palm Oil Millers’ Association’s estimates for production during Aug. 1-20 to rise 11.5% month-on-month, traders said.“We expect an increase in production and decrease in exports, resulting in the addition of inventories at the end of August,” said Anilkumar Bagani, research head of Mumbai-based vegetable oils broker Sunvin Group.Cargo surveyors last week said palm oil shipments during Aug. 1-20 fell between 8.7% and 11.5% from the month before.India, the world’s biggest vegetable oil importer, on Friday cut base import taxes on crude and refined soyoil and sunflower oil to 7.5% from 15% until Sept. 30.This puts soft oil imports at parity with those of palm oil and may cap a recovery in palm oil prices, traders and analysts said.India may restore higher duty structure for palm and soft oils after Sept. 30, hence exporters will seek to ship to India as much as possible before the deadline, Bagani said.Oil prices jumped 3% with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant, making palm a more attractive option for biodiesel feedstock.Dalian’s most-active soyoil contract gained 0.3%, while its palm oil contract rose 0.6%. Soyoil prices on the Chicago Board of Trade were up 2.5%.Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
| title | Created At | Action |
|---|---|---|
| Rupee gains, strengthens by 3 paise and opened at 74.18 | 27-08-2021 17:40:52 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 08/19/2021 | 27-08-2021 01:11:24 | view |
| U.S. EXPORT SALES FOR WEEK ENDING 08/19/2021 | 27-08-2021 01:06:33 | view |
| Rupee strengthened by 3 paise and closed at 74.22 level | 26-08-2021 23:57:35 | view |
| INDIA’S COTTON EXPORTS REMAIN RESILIENT WITH 75.71% INCREASE IN MAY 2021 | 26-08-2021 23:45:41 | view |
| KUALA LUMPUR: Malaysian palm oil futures took early gains on Wednesday as markets eased a fall in August exports and focused on a tight supply outlook in global edible oils due to warmer weat | 26-08-2021 17:56:32 | view |
| Strong opening of the rupee, opened 2 paise higher at 74.22 | 26-08-2021 17:38:00 | view |
| Rupee weakens by 5 paise and closed at 74.24 level | 26-08-2021 01:17:10 | view |
| All India Weather Forecast for August 25, 2021 | 25-08-2021 20:04:18 | view |
| Near Term Fundamentals Still Appear Positive for India’s Cotton Cake | 25-08-2021 20:02:54 | view |
| Palm snaps two-day climb | 25-08-2021 20:00:41 | view |
| Soyabeans rally as crop conditions drop, soyaoil prices rise | 25-08-2021 20:00:12 | view |
| Weakness in rupee, 1 paise breaks open at 74.20 | 25-08-2021 17:46:43 | view |
| Rupee strengthens by 2 paise and closed at 74.19 level | 24-08-2021 23:33:48 | view |
| CHICAGO: US soybean futures firmed on Monday in a modest recovery from last week’s two-month low as crude oil markets rebounded and lifted soyoil prices more than 3%, traders said. | 24-08-2021 23:31:12 | view |
| Palm oil ends over 1pc higher | 24-08-2021 23:30:28 | view |
