The National Commodity and Derivatives Exchange will launch a futures contract in GUAREX, a sectorial index which would be available for trading from Monday, the bourse said in a release. Contracts expiring in September and October will be available for trading. The US Department of Agriculture has scaled down its estimate for global oilseed production in 2021-22 to 629.5 mln tn from 635.4 mln tn projected in July. The downward revision is due to lower production of canola in Canada and sunflower seed in Russia. The Cotton Association of India has scaled up its export estimate for 2020-21 (Oct-Sep) to 7.7 mln bales (1 bale = 17 kg) from 7.2 mln bales projected earlier. In the current marketing year, India shipped around 7.0 mln bales till July. India received 5.5 mm of rainfall today, 40% below the normal weighted average of 9.2 mm, according to the India Meteorological Department. India has achieved 100% of its sugar export target of 6 mln tn for 2020-21 (Oct-Sep) as on Aug 5, All India Sugar Trade Association said in a release. Mills have already shipped out 5.1 mln tn of sugar for the current season. The US Department of Agriculture, in its August report, revised its global wheat production outlook for 2021-22 to around 777.0 mln tn from 792.4 mln tn forecast in the July report. The water level in 130 key reservoirs was at 103.517 bcm as of Thursday, 59% of the total storage capacity, as per data from the Central Water Commission. The present level of water in these reservoirs is 12% higher than last year, and 9% higher than the 10-year average.
Source:moneycontrol.com