Ref soyaoil trading range for the day is 693.02-715.42.
Ref Soyaoil dropped due to poor demand in the spot market as higher soymeal prices squeezed export orders.
Market was over optimistic about soymeal exports, but actually oil mills are getting fewer orders due to higher prices.
Global oilseed trade for 2012/13 is projected at 114.4 million tons, down 1.4 million mainly reflecting reduced soybean trade.
At the Indore spot market soyoil edged down by -1.5 rupee to 723 rupees 10 kgs.
No comments:
Post a Comment
Note: only a member of this blog may post a comment.