Chana continued to trade with very high volatility as prices picked up again at the lower levels with demand rising. As Festive season domestic demand picks up, overall sentiments are expected to remain firm for the counter. Falling stocks too would support the prices in medium term—as per traders. Rising imports too kept checking the uptrend. Falling stocks and rising domestic demand would likely support the prices in coming weeks. Availability of chana is falling in Jalgaon, Gulbarga and Akola apart from Rajasthan, MP and Maharashtra. New crop arrival is still far away for Pulses. Millers demand is also likely to increase in coming days.
Mentha Oil kept trading with high volatility as moderate bounce back seen from the lower levels. However strong resistance is also seen at the 1000 levels for September contract. The down trend may be limited however as rising demand amidst lower arrivals supported the prices. Sources indicate rates have fallen to low levels over last few weeks and further fall may be limited as domestic and export demand rise.
SOYA OIL :- The downward trend has been persistent in soy complex till last week, amid ample export availabilities in South America, weak sentiments in crude palm oil, and a favourable global supply/stock outlook for 2015/16. Among the factors driving up global edible oils stocks are subdued demand for palm and soy oil by the biodiesel sector in Indonesia and Argentina.
SOYABEAN :- Weakening global market tone and slowing export demand for soymeal kept the tone negative in the Indian futures market on Thursday. However there was a moderate recovery towards close due to thin arrivals of the old season stocks. New season arrivals shall commence next month onwards when the key mandis start receiving new season harvests.
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