MUMBAI (Commodity Online): Sharp recovery is seen in the soy refined prices in the line with international markets.

Further, traders avoided further shorts because Thursday is the last trading day of this week due to holiday on Friday and Saturday. International sentiments are more or less positive.

In India also next two months will witness festivals thus physical market demand is expected to remain very good.

We expect that not much decline will be seen rather dips will be utilized in making fresh buying positions. CPO at the BMD, Malaysia trades with positive undertone. Soy oil on the CBOT is also positive.

Experts feel that long term outlook of edible oils is positive and traders would utilize dips to create fresh buying position. Thus any sharp correction is not expected.

Courtesy: Religare Commodities

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