Ref Soyoil Dropped On Profit Booking After Prices Gained

Ref.Soya oil trading range for the day is 743-765.

Ref soyoil dropped on profit booking after prices gained tracking improving physical demand against lower stocks at the ports.

Soyoil imports down 22.8% to 2.23 lt in Jun compared to 2.90 lt last year same month.

Overall, imports are down 4.80% for the first eight months of OY 2018/19 at 16.92 lt compared to last year same period.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 756.3 Rupees per 10 kgs.

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Silver Ended With Gains As A Weaker Dollar And Heightened Tensions

Silver trading range for the day is 37800-38328.

Silver ended with gains as a weaker dollar and heightened tensions between the United States and Iran underpinned the precious metal.

While U.S. President Donald Trump said he was not seeking war with Tehran, U.S. Secretary of State Mike Pompeo said "significant" sanctions on Tehran.

US home sales jumped 2.5% in May, as lower mortgage rates appeared to help buyers overcome affordability challenges.

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Soyabean Prices Ended With Losses Triggered By Subdued Demand

Soyabean trading range for the day is 3734-3860.

Soyabean prices ended with losses triggered by subdued demand at the domestic spot market and higher output projection.

India's 2018-19 soybean output is projected 24.7% higher at 13.69 million tons as per second advance estimates released by agriculture ministry.

As per the Second Advance Estimates for 2018-19 crops, Soybean production is estimated higher by 20 per cent at 136.89 lakh tonnes.

At the Indore spot market in top producer MP, soybean dropped -18 Rupees to 3913 Rupees per 100 kgs.

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Mustard Seed Gained On Short Covering After Prices Dropped On Expectation

Rmseed trading range for the day is 3789-3897.

Mustard seed gained on short covering after prices dropped on expectation of higher production prospects this year.

Mustard production is forecast about 84 lakh tonnes, up 1% y/y, in second advance estimate for 2018-19 by Government.

As per SEA, the production will be higher by about 19% this season to over 81 lakh tonnes due to better climate and higher area.

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Crude Palm Oil Dropped Pressured By Weaker Spot Demand

CPO trading range for the day is 546.7-554.1.

Crude palm oil dropped pressured by weaker spot demand and forecast that Malaysia’s February palm output will be higher than usual.

Output in Malaysia, fell 3.9 percent to 1.74 million tonnes last month, data from the Malaysian Palm Oil Board showed.

Malaysia kept its export duty on crude palm oil for March at zero percent, according to a circular on the Malaysian Palm Oil Board's website.

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Ref.Soya Oil Prices Ended With Gains On Persistent

Ref.Soya oil trading range for the day is 756-778.

Ref.Soya oil prices ended with gains on persistent demand in spot markets.

Lower imports in the first two months of the current oil year amid rising seasonal demand lent support to prices.

India imported 289,000 tons soyoil during November-December 2018 as against 353,000 ton a year, showed data.

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