Last Updated : February 10, 2010 12:37
NCDEX refined soy oil falls from three weeks high
MUMBAI (Commodity Online): Refined Soy Oil futures fell from the three and half week’s high on Wednesday in the domestic futures market in tandem with weak global trends.
NCDEX March Refined Soy oil trades at Rs 467.1 per 10 kg, down Rs 2.10 per 10 kg or 0.45% from the previous close with 0.26% drop in the open interest. The trend is mixed and unless prices overcome Rs 470 barrier, the counter is likely to face selling pressure on rallies.
The Malaysian CPO futures also failed to add much to its rally of the last six consecutive sessions The benchmark April futures on the Bursa Malaysia Derivatives Exchange trade at MYR 2564 per tonne, up MYR 3 per tonne from the previous close.
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Refined Soy Oil futures managed to hit a three and half week high above Rs 470 per 10 kg as strong global cues and ideas that a steady demand in cash markets would stay on for the next few weeks supported the sentiments. However, prices ended under Rs 470 and slipped right from the start today.
MCX LEAD 29 February 2012
contract was trading at
Rs 106.15 . What's your view on it?
