Domestic oilseeds may trade with a bearish bias tracking weakness in international prices & domestic spot markets.
Soybean traded steady to weak in the major markets of Madhya Pradesh and Maharashtra, while plant prices were down Rs 15-25 per 100 kg.
Bearish futures and slightly negative USDA report weighed on the market. Soybean traded at Rs 2,200-2,530 per 100 kg in the major markets of Madhya Pradesh and Rs 2,300-2,470 per 100 kg in Maharashtra.
US soybean futures ended with modest gains, breaking a three-day string of losses as investors covered shorts ahead of the weekend, CBOT March soybeans ended up 1 1/2c to $12.29/bushel.
Malaysian Crude Palm Oil fell as on the demand side, cargo surveyor Intertek Testing Services said Malaysian palm oil exports from Feb. 1 to 10 fell 7.7 percent to 342,982 tonnes from a month ago.
Courtesy: SMC Global
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