 |
Soybean futures (Nov) is expected to trade higher towards 3290, if breaches the resistance near 3255 levels. The counter is expected to witness a lower level buying taking positive cues from the spot markets. Demand in soybean is good from crushers as well as stockists. Stockists are buying expecting prices to improve ahead amid optimism of better soybean meal exports. India’s soybean export prospects seem better in ongoing marketing season 2018-19 (Oct-Sept) due to good production followed by competitive rates amid depreciating rupee. Mustard futures (Nov) is likely to trade higher & test 4250 levels, taking support near 4195. China has dropped a ban on rapeseed meal imports from India as the Government seeks to diversify sources of protein used in animal feed, China's customs administration said. Rapeseed meal shipments from India can resume from Monday if they meet certain inspection and quarantine requirements, the General Administration of Customs said on its website. CPO futures (Oct) is expected to witness a consolidation in the range of 584-589 levels. On the internationals market, expectations of Malaysia's rising monthly production in October added to the worries. Palm oil production is forecast to rise in the last quarter of the year in line with seasonal trend, before tapering off early next year. In related oils, the Chicago December soybean oil contract was down 0.9 percent on Tuesday.
HAPPY TRADING!!!!!!!!!!!!Click here to visit my website : https://bit.ly/1h8KZUM
Free Trial link : https://bit.ly/2u2GUhK
Any queries CALL US : 9977499927
0 comments:
Post a Comment