Soybean futures (June) is expected to trade sideways in the range of 3675-3715 levels.Soybean futures (June) is expected to trade sideways in the range of 3675-3715 levels.
On the spot markets, soybean traded low due to weak buying support.
The soy solvent ruled at Rs.720-25. Soybean also fell to Rs.3,750-75 a quintal,
while plant deliveries of soybean were quoted at Rs.3,800- Rs.3,825. On the
international markets, the most active soybean futures added nearly 0.8% at
$8.38 a bushel after closing up 1.2% on Monday. More rains forecast across key
U.S. growing regions, stoking fears that farmers may be forced to switch to
sowing soybeans which can be planted later. The USDA said 19% of the soybean
crop has been planted, behind market expectations. Taking cues from the
positive sentiments of the international market & a weaker rupee against dollar
hovering near 70, soy oil futures (June) is expected to see the level of 742-743,
taking support near 737, while CPO futures (June) will remain steady in the
range of 525-530 levels. Palm oil on the European vegetable oils market was
rather stable with slight ups and downs, depending on the month, as the dollar
went slightly down while ringgit and CBOT soyoil futures both went up. Prices of
crude palm oil were unavailable on the Malaysian exchange yesterday as the
exchange was closed on account of a public holiday. The market will resume
trade on Tuesday. The bullishness will prevail in mustard futures (June) & is
expected to soar towards 3950-3970, taking support near 3880 levels. The
sentiments are upbeat due to buying by oil millers and on hope of a pick-up in
procurement at minimum support price.
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