Refined soy oil trading range for the day is 731.22-747.82. Market is looking to take support at 736.4, a break below could see a test of 731.2 and resistance is now likely to be seen at 744.7, a move above could see prices testing 747.8. At the Indore spot market soyoil edged down by -7.15 rupee to 730.7 rupees 10 kgs. In yesterday's trading session Refined soy oil has touched the low of 734.3 after opening at 739, and finally settled at 741.6.
According to Angel Commodities, in the intra-day oil seed complex may decline further on technical correction amidst higher global soybean output forecast for 2012-13. However, for the medium- to long-term, oilseed complex are expected to trade firm due to higher export figures of domestic soy meal coupled with tight supplies of oilseeds in the domestic and global markets.
The country imported 925,334 tonnes of vegetable oils in April, up 27 percent from 727,706 tonnes in March. India imported 925,334 tonnes of vegetable oils in April, up 27 percent from 727,706 tonnes in March as imports of soy oil and sunflower oil surged, a leading trade body said on Friday.
NCDEX June soy oil futures are also moving similar like CBOT futures. Expecting prices to trade toward lower side in the coming session, lower side possible targets seems to be around 722/720 Resistances are seen at 742/752. Overall expecting prices to trade toward downside in the coming session and recommended to sell from higher levels report by Karvy Commtrade.
With inputs from Kedia Commodities, Karvy Commtrade and Angel Commodities
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
NCDEX Ref Soyoil To Trade LowerTracking CBOT Trends
Published 05/14/2012, 03:29 AM
Updated 05/14/2017, 06:45 AM
NCDEX Ref Soyoil To Trade LowerTracking CBOT Trends
Latest comments
Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.