Geojit's report on Agri Picks
Malaysia's palm oil exports in Jul 1-25 were estimated at 1.15 mln tn, down 1.5% on month, data by cargo surveyor SGS Malaysia showed. National Commodity & Derivatives Exchange has modified the contract specifications for soybean futures and options. The changes will be applicable for contracts expiring in the month of January and thereafter from Aug 6, the exchange said in a circular. The government has procured over 90% of onions for the 200,000-tn buffer stock under the price stabilisation fund for 2021-22 (Apr-Mar), a government official said. India received 11.1 mm of rainfall today, 7% above the normal weighted average of 10.4 mm, according to the India Meteorological Department. India rainfall since Jun 1 at 416.6 mm, 2% below normal. The US Federal Reserve's Federal Open Market Committee unanimously voted to leave the federal funds rate target range unchanged at 0.00-0.25%, although it hinted that some progress had been made to satisfy the conditions needed for the central bank to taper its monthly asset purchases.
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