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. 

Indian Market Under Big Fall, Gold & Silver Boosted Up

Although, The Indian Domestic Market made a nice opening in the morning today, but the market didn't take much longer to fall into the negative zone and ended up in a very badly. The Indian Market was weakened by increased market selling and weak global signs. Except, Asian Paints Most of the Sensex and Nifty stocks ended up with loss. The top benchmark index Sensex closed at 23410.18 after losing 378.61 points and Nifty closed at 7109.55 with the loss of 125 points. The MCX Commodity Market is also facing the same situation. Except, Gold Silver and Mentha Oil all other base metals are trading with negative signs. In major base metals, Gold is moving up with the hike of 188 points, Silver is moving up with the hike of 34 points and Crude oil moving down with the loss of 32 points.

Gold price down in domestic market,

NCDEX Tips 

Gold price fell by Rs 60 in the second day of the trading session, the price came to Rs 28910 per 10 gm. The price dropped to Rs 340 in two days.

Silver in the recovery trend, the Silver price rose by Rs 150  came to Rs 37250 per Kg.

Due to lower demand in domestic market, Gold has declined and not benefited by strong global cues.