RM seed prices continue to remain positive on fresh buying support. CPO on BMD Malaysia also supports vegetable oil sentiments. RMseed support prices are to be declared and speculation is going on in the market with respect to its MSP. Arrival in the big producing mandis of Rajasthan is a little bit low. Production in South-east Rajasthan is expected to remain good. Traders are expecting RMseed to witness some bullish sentiments in the near future as stocks are depleting and the domestic soybean sentiments have improved and they lend some support to the RMseed as well.
On Monday RMseed prices are expected to trade positive. On NCDEX January contract is expected to feel resistance near 583 then 591 and support at 563 then 557 levels.
Courtesy: Religare Commodities
