Login ID:
Password:
Partner Login
Contact Us : 7066511911

Oilseeds Commentary: Soybean futures take support of lower prices, rise above 4400

25 Nov 2020 9:04 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) – NCDEX Soybean futures today went up by 47 Rs to close at 4404 Rs/Qtl.


As anticipated earlier, prices rebound from lower levels to gain today after falling consecutively from last two sessions.


Soybean crush margin remains robust to attract robust buying by plantation and stockist alike. As of today soybean crush margin for Indore spot prices is 130/150 Rs/Qtl positive. Its hugely encouraging for soybean extraction plants to keep crushing at aggressive pace.


Soybean meal export demand is driving meal prices higher as spread between US Gulf Soymeal FOB and Kandla Soymeal FOR is less than $20/MT which is likely to be favourable for Indian soymeal. It makes Indian soymeal lucrative for overseas buyers.


Henceforth, NCDEX Soybean futures are likely to hold support of 4300 Rs./Qtl and trade towards 4400/4450 Rs/Qtl in coming session.


(Commodities Control Bureau)


       
  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
Lower Rajasthan Cotton Rates Steady amid Restricted Dem...
A.P - Telangana Cotton Prices Extend Steadiness amid Fi...
Karnataka Cotton Prices Slips on Dull Demand from Stock...
Maharashtra Cotton Rates Flat amid Restricted Demand fr...
M.P Cotton Holds Steady due to Lacklustre Mill Buying, ...
more
Top 5 News
Global Nickel Market Surplus Rises in November INSG...
Coriander: New Crop Prices Crumble under Arrivals' Pres...
India Barley Sowing Progress As On January 13
India Maize Sowing Progress As On January 13
India Jowar Sowing Progress As On January 13
Top 5 Special Reports
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
Robust Chinese Demand to Keep Cotton Prices Firm, ZCE C...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
Weekly: Tur, White Pea Gain Most This Week; Chana Weake...
USD/INR (Jan 21) Weak Price Trend / Next Target at 7...
Copyright © CC Commodity Info Services LLP. All rights reserved.