Showing posts with label agri premium. Show all posts
Showing posts with label agri premium. Show all posts

Wednesday, 12 June 2019

CAPITALSTARS WEDNESDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 12 JUNE 2019

NCDEX soybean futures traded on mixed note on Tuesday as prices recovered from the intraday losses to close the day at positive note

 CAPITALSTARS INVESTMENT ADVISOR
Soybean is expected to trade mixed to down due to expectation of picking up of sowing activities in line with the advancement of monsoon rainfall in central region. Southwest monsoon is likely to progress smoothly could boost up the sowing activities in the countries. Moreover, subdued demand against the balanced supply situation is likely to cap the excessive gains in prices in near future.  Meanwhile, China soybean imports from the U.S., Brazil, and Argentina in May dropped to 6.8 million tons, down 16% from April and 35% from last year's record of 10.4 million tons. China's soybean imports from the U.S. declined to 845 thousand tons in May
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Friday, 7 June 2019

CAPITALSTARS FRIDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 07 JUNE 2019

Soybean futures (June) will probably consolidate in the range of 3630-3675 levels.

 CAPITALSTARS INVESTMENT ADVISOR
The market participants are cautious and keeping a watch on the progress of monsoon as well as the notion of the farmers to sow soybean this season. In the latest update, monsoon season rainfall for country as a whole is likely to be 96% of Long Period Average. The rains are likely at 94% of LPA over North West India; 100% over Central India, 97% over South Peninsula & 91% over Northeast. On CBOT, the most active soybean futures dropped nearly 1% so far this week, set for the first weekly slide in a month. The U.S. Department of Agriculture reported export sales of U.S. soybeans in the week ended May 30 at 583,700 tonnes (old and new crop years combined), in line with trade expectations. Soy oil futures (June) might witness sideways movement in the range of 745-750 levels. The government plans to check duty-free, cheaper imports of edible oils through Nepal, to safeguard interests of the domestic refining industry and oilseed farmers. The overall trend of CPO futures is down owing to weakness prevailing in the Malaysian palm oil prices. In recent news, Poland is against the European Union’s (EU) proposed plan to ban the use of palm oil as a component of biofuels. Overall, the June contract might descend towards 510-508 levels. Mustard futures (June) is expected to trade on a strong foot & might take support near 3910 levels. The Solvent Extractors' Association of India has urged the government to allow export of mustard oil in bulk, in line with overseas sales of other edible oils. The US, West Asia, England, Nepal, Canada and Bhutan are top consumers of Indian mustard oil.
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Thursday, 6 June 2019

CAPITALSTARS THRUSDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 06 JUNE 2019

Soybean futures (June) will probably plunge further towards 3580 levels.

 CAPITALSTARS INVESTMENT ADVISOR
The market participants are cautious and keeping a watch on the progress of monsoon as well as the notion of the farmers to sow soybean this season. In the latest update, monsoon season rainfall for country as a whole is likely to be 96% of Long Period Average. The rains are likely at 94% of LPA over North West India; 100% over Central India, 97% over South Peninsula & 91% over Northeast. On CBOT, The most active soybean futures were down 0.3% at $8.67 a bushel, having closed down 1.4% on Wednesday. Soy oil futures (June) might witness some retracement towards 745 levels. The government plans to check duty-free, cheaper imports of edible oils through Nepal, to safeguard interests of the domestic refining industry and oilseed farmers. The overall trend of CPO futures is down owing to weakness prevailing in the Malaysian palm oil prices. In recent news, Poland is against the European Union’s (EU) proposed plan to ban the use of palm oil as a component of biofuels. Overall, the June contract might descend towards 510-508 levels. The Malaysian palm oil futures market will be closed until Thursday and will re-open on Friday. Mustard futures (June) is expected to trade on a strong foot & might take support near 3895-3870 levels. The Solvent Extractors' Association of India has urged the government to allow export of mustard oil in bulk, in line with overseas sales of other edible oils. The US, West Asia, England, Nepal, Canada and Bhutan are top consumers of Indian mustard oil.
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Tuesday, 4 June 2019

CAPITALSTARS TUESDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 04 JUNE 2019

Soybean futures (June) will probably plunge further towards 3600-3580 levels

 CAPITALSTARS INVESTMENT ADVISOR
The market participants are cautious and keeping a watch on the progress of monsoon as well as the notion of the farmers to sow soybean this season. In the latest update, monsoon season rainfall for country as a whole is likely to be 96% of Long Period Average. The rains are likely at 94% of LPA over North West India; 100% over Central India, 97% over South Peninsula & 91% over Northeast. On CBOT, U.S. soybean futures are on a track to witness further gains on account of planting delays in the U.S. Midwest and expectations of sharp cutback in acreage as well as harvest yields. Soy oil futures (June) might witness some retracement towards 748 levels. The government plans to check duty-free, cheaper imports of edible oils through Nepal, to safeguard interests of the domestic refining industry and oilseed farmers. The overall trend of CPO futures is down owing to weakness prevailing in the Malaysian palm oil prices. In recent news, Poland is against the European Union’s (EU) proposed plan to ban the use of palm oil as a component of biofuels. Overall, the June contract might descend towards 510-508 levels. Mustard futures (June) is expected to trade on a strong foot & might take support near 3895-3880 levels. The Solvent Extractors' Association of India has urged the government to allow export of mustard oil in bulk, in line with overseas sales of other edible oils. The US, West Asia, England, Nepal, Canada and Bhutan are top consumers of Indian mustard oil
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Monday, 3 June 2019

CAPITALSTARS MONDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 03 JUNE 2019

Soybean futures (June) will probably witness a consolidation in the range of 3670- 3715 levels

 CAPITALSTARS INVESTMENT ADVISOR
The market participants are cautious and keeping a watch on the progress of monsoon as well as the notion of the farmers to sow soybean this season. In the latest update, monsoon season rainfall for country as a whole is likely to be 96% of Long Period Average. The rains are likely at 94% of LPA over North West India; 100% over Central India, 97% over South Peninsula & 91% over Northeast. On CBOT, U.S. soybean futures are on a track to witness further gains on account of planting delays in the U.S. Midwest and expectations of sharp cutback in acreage as well as harvest yields. Soy oil futures (June) might witness some retracement facing resistance near 757-760 levels. The government plans to check duty-free, cheaper imports of edible oils through Nepal, to safeguard interests of the domestic refining industry and oilseed farmers. The overall trend of CPO futures is down owing to weakness prevailing in the Malaysian palm oil prices. In recent news, Poland is against the European Union’s (EU) proposed plan to ban the use of palm oil as a component of biofuels. Overall, the June contract might break the near term support of 517 & descend towards 515-513 levels. Mustard futures (June) is expected to trade on a strong foot & might rally to test 3970-4000 levels. The Solvent Extractors' Association of India has urged the government to allow export of mustard oil in bulk, in line with overseas sales of other edible oils. The US, West Asia, England, Nepal, Canada and Bhutan are top consumers of Indian mustard oil.
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Friday, 31 May 2019

CAPITALSTARS FRIDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 31 May 2019

Soybean futures (June) is expected to take support near 3680-3655 levels & any sharp downside may remain capped.

 CAPITALSTARS INVESTMENT ADVISOR
The demand is catching pace on the spot markets supported by lower level buying & expectation of higher buying from millers owing to positive gross crush margin of Rs.817 per ton. The upswing momentum in domestic soybean prices & a weaker rupee against dollar may continue to lend support to soy oil futures (June), hence it may trade in the range of 753-758 levels. Oils in Indore mandis showed a mixed trend with soya and palm oils trading higher on weak availability. Soya refined on the spot rose to Rs.762-65 for 10 kg, while soya solvent ruled at Rs.728-32. CPO futures (June) is expected to witness a consolidation in the range of 520-525 levels. Malaysian palm oil futures fell 1 per cent on Thursday, snapping a three-session rally on profit taking and slowing gains in other related edible oils. The Chicago July soybean oil contract slipped after three sessions of gains and was last down 0.2pc. In other related oils, the September soyoil contract on the Dalian Commodity Exchange fell 0.6pc and the Dalian September palm oil contract eased 0.5pc. Mustard futures (June) is expected to trade higher towards 3990-4005 levels. On the spot, at present the demand is firm from crushing plants as the arrivals are shrinking because the peak supply season is coming to an end. In Jaipur, the oilseed was sold at 4,110-4,115 rupees per 100 kg, up 10 rupees from Wednesday.
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