Wednesday 6 March 2019

CAPITALSTARS WEDNESDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 06 MARCH 2019

Soybean futures (Mar) is likely to face resistance near 3695 & the upside may remain capped.

CAPITALSTARS INVESTMENT ADVISOR
In the present scenario, the South America meal prices are at much cheaper rate compared to Indian soymeal, hence the export demand for Indian origin meal is likely to remain down in coming weeks. The same shall continue to pressurize domestic market sentiments in coming sessions. CPO futures (Mar) may witness a decline towards 545 levels due to situation of oversupply in the domestic market. The imports of RBD Palmolein (finished product) have doubled in just two months to almost 275000 in February 2019 from 130,000 tonnes in December 2018 owing to reduction in duty difference from 10% to 5% for Malaysia. Going ahead, the main focus of Malaysian market will be on supply side as the February data will be reported by the Malaysian Palm Oil Board on March 11. The downtrend in mustard futures (Apr) is expected to continue till 3780-3750 levels. India's mustard output in 2018-19 (Jul-Jun) is estimated at 85 lakh tons, up 19% on year. This season yield is also good due to supportive weather conditions in key growing regions. The yield is likely to be around 1,281 kg/ha against 1,120 kg/ha on 63.93 lakh hectares last year. Fresh arrivals of mustard crop have already started in some parts of Rajasthan. According to the trade bodies, so far, about 20-25 per cent of the overall crop has been harvested and the entire harvest is expected to be completed in the next 3-4 weeks.

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

1 comments:

Subscribe to: Post Comments (Atom)