Showing posts with label NCDEX Tips. Show all posts
Showing posts with label NCDEX Tips. Show all posts

Wednesday 24 February 2016

Soybean price and Soy oil prices declined

Soybean prices future declined on weak demand 

In NCDEX, Soybean March futures yesterday opened on flat note and it traded down for most part of the day. The prices continued to decline yesterday due to fall in demand for soybean amid record low soy meal exports and lower crush margin. For today we continue to be on bearish side due to weaker demand scenario of soybean in the domestic markets. Decline in soy meal exports and lower crush margin is expected to weigh on the prices. 

Soy oil prices declined on higher supply 

Refined Soy oil March futures at NCDEX platform yesterday opened on a negative note and it traded down throughout the day. The prices closed down yesterday tracking negativity from domestic soybean prices and also overseas market. The Ref. Soy oil future prices may continue trading on a weaker note, today. Higher supplies of imported soy oil in the domestic market are expected to rise which may pressurize the prices. 

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