DOMESTIC OILSEEDS FUNDAMENTALS : 09.09.2016
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Indian soybean witnessed covering of shorts on Thursday. However expectation of a good crop this
year limited upside. Sources believe that this year soy crop could be in the range from 95-10 lakh MT. Refined Soy oil futures ended higher tracking firm overseas prices. Rapeseed futures fell on Thursday amid weak demand.
Indian soybean prices could continue to trade range bound to weak on better crop prospects. Weak soy meal export demand could also limit any upside. Soy oil prices could trade range bound to weak. A weaker Rupee could limit downside.
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Indian soybean witnessed covering of shorts on Thursday. However expectation of a good crop this
year limited upside. Sources believe that this year soy crop could be in the range from 95-10 lakh MT. Refined Soy oil futures ended higher tracking firm overseas prices. Rapeseed futures fell on Thursday amid weak demand.
Indian soybean prices could continue to trade range bound to weak on better crop prospects. Weak soy meal export demand could also limit any upside. Soy oil prices could trade range bound to weak. A weaker Rupee could limit downside.
