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Soy oil Prices corrects with increasing soybean arrivals

27 Oct 2020 5:27 pm
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Mumbai (Commodities Control) – NCDEX Soy oil futures traded lower during today’s session on back of falling soybean prices. Futures today traded 3 Rs lower at 978.5 at time of reporting.

Prices also reacted to fall in CBOT soybean oil prices in yesterday’s session. Weakness in prices is primarily triggered by ample soybean arrivals across major mandis in India.

Demand for soy oil however will remain robust with increase palm oil prices during recent sessions.

We expect brief correction in soy oil prices to extend towards 960/970 levels in coming sessions.

(Commodities Control Bureau)

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