Soybean prices declined on Tuesday owing to weakness in demand across spot markets. Crushing margin has decreased largely across spot markets which resulted in bleak demand for bean in physical markets.
CBOT soybean prices remained higher on Tuesday owing to lower production estimates of bean projected for South America.
Soy oil prices extended losses on Tuesday owing to expectations of higher imports of edible oil in months of February and March months from Brazil and Argentina.
CBOT soy oil prices have gained on expectations of weekly export sales data of oil might increase from china.
Mustard seed prices declined in line with the soy complex on Tuesday. China is actively buying canola meal from European nations after imposing ban on Indian meal imports. This has been affecting mustard meal imports.
Temperatures are returning to normal which is supportive for the crop which kept the prices under pressure.
Courtesy: Karvy Comtrade Ltd.
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