As per the recent SEA data, export of soybean meal is at a historical low, reducing to 46,980 tons compared to 140,098 tons during the first seven months of the financial year 2015- 16. India’s vegetable oil imports jumped 24 per cent in oil year 2014-15 (Oct- Nov).
As per COOIT, India is likely to produce 7.2 mt of soybeans in 2015, a dip of 15.3 percent over the last year, because of patchy rains in the top two producing states. However, as per the data release by SEA, for April—September period of the 2015—16 fiscal, soybean meal exports dropped sharply to 42,743 tonnes from 1,11,027 tonnes in the year— ago period. Argentina’s 2015/16 area under soybean is forecasted at 20.6 million hectares by the agriculture ministry, the first estimate of the season, in the monthly report. However, Rosario Grain Exchange had estimated 20.5 million hectares which is higher than their previous season’s estimate of 20.2 million hectares.
Trading Ideas:
Soyabean trading range for the day is 3859-4013.
Soyabean prices ended with losses amid prospect of ample South American supply too weighed on soyabean prices.
As per the recent SEA data, export of soybean meal is at a historical low, reducing to 46,980 tons compared to 140,098 tons.
NCDEX accredited warehouses soyabean stocks gained by 1364 tonnes to 25476 tonnes.
At the Indore spot market in top producer MP, soybean dropped -24 rupee to 3794 rupee per 100 kgs.
Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tips at very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.
Trading Ideas:
Soyabean trading range for the day is 3859-4013.
Soyabean prices ended with losses amid prospect of ample South American supply too weighed on soyabean prices.
As per the recent SEA data, export of soybean meal is at a historical low, reducing to 46,980 tons compared to 140,098 tons.
NCDEX accredited warehouses soyabean stocks gained by 1364 tonnes to 25476 tonnes.
At the Indore spot market in top producer MP, soybean dropped -24 rupee to 3794 rupee per 100 kgs.
Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tips at very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.
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