Thursday 28 February 2019

CAPITALSTARS THURSDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 28 FEB 2019

Soybean futures (Mar) may test 3600 levels on the downside.


In physical market, demand from most of the millers and crushers remained subdued after the prices started hovering above the levels of Rs.3800 per quintal. Further, this oilseed is being imported mainly from some least-developed African countries which India has signed treaties for concessional or duty-free imports. The landed cost of imported soybean is Rs.3,500 per quintal. Ref. soy oil futures (Mar) is expected to test 755-752 levels on the downside. On the spot markets, Soy oil and bean traded low due to weak demand with soy refined being quoted at Rs.775-Rs.780 for 10 kg, while soy solvent ruled at Rs.740-Rs.745. CPO futures (Mar) is expected to trade sideways & consolidate in the range of 548-555 levels. Malaysian palm oil futures declined for a fourth day on Wednesday, falling to their weakest levels since the start of the year on expectations of weaker demand, a stronger ringgit currency and weaker related edible oils. The May soyoil contract on the Dalian Commodity Exchange declined 0.5 percent and the Dalian May palm oil contract was down 1.2 percent. Mustard futures (Apr) is expected to plunge towards 3820-3800 levels as the upside may remain capped owing to reports of higher production. India's mustard output in 2018-19 (Jul-Jun) is estimated at 8.5 mln tn, up 19% on year owing to better yield and favourable weather conditions according to Solvent Extractors Association of India.


HAPPY TRADING!!!!!!!!!!!!!!!!!!
Click here to visit my website : https://bit.ly/1h8KZUM
Free Trial link : https://bit.ly/2u2GUhK
Any queries CALL US : 9977499927
CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY  -
CAPITALSTARS CALL US : 9977499927

Posted by at
Labels: , , , , , ,
Location: India

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)