Soybean futures (May) is expected to break the support near 3770 & plunge further to test 3750 levels
As per market
sources, India has recently imported one vessel of soymeal from Argentina and is expecting another in coming couple of days.
These meal vessels would be directly re-exported to Iran in next few days. India, for the first time has imported soymeal from some
other nation to re-export to other. One vessel quantity is aprox-40 thousand tons. CPO futures (Apr) is expected to take support
near 537 levels. Malaysian palm oil futures charted a sixth day of gains in seven as the market cheered a bullish outlook on March
production and inventory levels. The market was bullish ahead of official data from the Malaysian Palm Oil Board (MPOB), which is
forecast to show a decline in March-end stocks. Malaysia’s palm oil stockpiles in March are likely to have dropped by 6.4 percent
from February to 2.85 million tons, its lowest in five months, as a hefty jump in exports outpaced production gains. The Malaysian
Palm Oil Board is scheduled to release March data on Wednesday. Mustard futures (May) is expected to take support near 3760
levels. Mills across the country have crushed 950,000 tn of mustard seed in March, up 18.8% on year, according to data compiled
by the Mustard Oil Producers Association of India. Improved supply of the fresh crop harvested in 2018-19 (Jul-Jun) and a pick-up
in demand from oil millers ramped up crushing operations. Crushing of the oilseed in March is nearly double that in the preceding
month. Stocks with farmers, processors, stockists and state-run agencies were at 7.2 mln tn.
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 -
Visit our website : http://www.capitalstars.com/free-trial
CAPITALSTARS CALL US : 9977499927
0 comments:
Post a Comment