Soybean prices declined in the second session owing to the weak buying activities across major spot markets. Spot prices dropped marginally by `10-15/quintal across major markets as lower crushing margin in during current week kept the buyers inactive.
CBOT soybean futures ended slightly higher on weak dollar index and taking cues from revised production estimates for Argentina regions which is lowered to 46.5 million tons.
Soy oil prices declined on Thursday owing to weak demand across spot markets. Refined soy oil spot prices remained at `655/10kg in Indore markets.
Higher imports during January month is affecting market sentiments despite data release is in the next week. CBOT soy oil prices remained higher supported by weaker dollar and better exports data during last week.
Mustard seed prices extended the losses yesterday as the arrivals season is gaining momentum across major spot markets.
Ex- Kandla meal prices dropped more then `200-300/ton during the week due to absence of meal demand. Mustard oil prices also dropped which kept prices under pressure.
Courtesy: Karvy Comtrade Ltd.
Looking for a trading partner? visit commodityonline.com/franchisee
