Login ID:
Password:
Partner Login
Contact Us : 07666977977

India Edible Oil Futures Down On Selling Pressure

4 Jan 2017 10:31 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (commoditiescontrol) - India crude palm oil and refined soy oil futures dropped in the early hour of trade on Wednesday amid selling pressure.

U.S soy oil futures today exhibited bearish tone today after closed down 0.43 percent previous session, while Malaysian palm oil futures at mid-day close plunged 0.82 percent.

Strength in Indian currency also weighed on edible oil prices.

Crude palm oil most active January delivery futures on the Multi Commodity Exchange (MCX) was lower 0.36 percent or Rs 2.1 at Rs 579.4/10kg against previous closing of Rs 581.5 Forward February contract was down 0.33 percent at Rs 569 against Rs 570.9 on previous session.

Refined soy oil January contract on NCDEX was down 0.13 percent or Rs 1 at Rs 725.6/10kg against previous closing of Rs 726.6 while forward February contract was trading weak at Rs 713 against previous closing of Rs 713.9.

According to CC analyst, crude Palm Oil (CPO) January contract trend is up with resistance is placed at Rs 585-593 and support is seen at Rs 576-568. Refined soy oil February contract trend is down with support is seen at Rs 710-700 and resistance is placed at 719-729.

(By Commoditiescontrol Bureau; +91-22-40015516)


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
DJ USDA Minnesota/North Dakota Daily Oilseed Prices - J...
DJ MGEX Grains Close - Jun 23
DJ CBOT Grains/Oilseeds Settlements - Jun 23
DJ CBOT Soyoil/Soymeal Close - Jun 23
DJ ICE Canada Review: Canola Corrects Higher Ahead of t...
more
Top 5 News
DJ Nymex/Comex Globex Metals Futures Hourly Price Updat...
DJ Nymex/Comex Globex Metals Futures Hourly Price Updat...
DJ Nymex/Comex Globex Metals Futures Hourly Price Updat...
DJ Nymex/Comex Globex Metals Futures Hourly Price Updat...
DJ Oil Prices Up as Bigger Producers Stick to Cuts
Top 5 Special Reports
Competitive Basis Justifies Astonishing Rise in Indian ...
Technical: Barley jaipur- Lower Level To Be Tested With...
Technical: Wheat Delhi- Trend Still Down
Chana Arrivals Slipped 11.64% In Delhi So Far This Seas...
Indian Cotton Shipments Rise 30% In May
Copyright © CC Commodity Info Services LLP. All rights reserved.