Spot market traded slightly higher on thin arrivals and firm overseas market also provided support to bulls on Wednesday. Arrivals were steady at 2000 bags at Indore mandi and 25,000 bags in Madhya Pradesh on Tuesday.

CBOT May soybean futures ended higher at $ 9.59/bushels on Wednesday, up 14.00 cents/bushels as compared to previous close.

The overall export of oil meals during first nine months of the financial year 2009-10 is reported at 2,286,369 tons compared to 4,069,597 tons for the same period of last year i.e. down by 44% due to weak export demand coupled with lower crushing and disparity in last 3 months due to excessive speculation in future market.

Spread between March and April contract is Rs -63.00 against previous day of Rs -74.00 per 100 Kg.

Courtesy: Angel Commodities

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