A consolidation can be seen in soybean futures (Apr) in the bandwidth of 3725-3785 levels
CAPITALSTARS INVESTMENT ADVISOR
With better price realization,
arrivals in MP mandi was observed marginally better compared to yesterday session. Total all India arrivals were observed close to
1.8 lakh bags (vs. 1.5 lakh bags) of which MP accounted for 80000 bags (vs. 50000 observed last day). Maharashtra contributed
for 75 thousand bags while Rajasthan and other states contributed 15000 and 10000 bags respectively. Soy oil futures (Apr) is
expected to trade sideways in the range of 730-735 levels. CPO futures (Apr) is expected to take support near 530 levels.
Malaysian palm oil futures rose to a two-week high during trade on Wednesday, posting a third straight day of gains, on
expectations of easing stockpiles and tracking strength in soyoil on the U.S. Chicago Board of Trade (CBOT). The Chicago May
soybean oil contract gained 1.4 percent on Tuesday, and was last up 0.4 percent on Wednesday. Mustard futures (Apr) is
expected to witness correction towards 3790 levels, taking support in the range of 3800 levels. Improvement in arrivals in physicalmarkets weighed on overall market sentiments. Total arrivals in country improved by 1.0 lakh bags at 6 lakh bags vs. 5 lakh bags
reported previous day in which Rajasthan accounted for 3.5 lakh bags (Vs. 3 Lakh bags), MP accounting for 50000 bags (40000
bags), UP at 80 thousand bags (60000 bags), Haryana and Punjab at 50000 bags (vs.40000 bags), Gujarat at 25000 bags (vs.
15000 bags), while other states contributing for 45000 bags (unch). Improving prices helped farmers to bring their produce back to
physical markets.
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