Soybeans surge in world markets as crushing data bullish in the US

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(Gujarat News Office) Mumbai, Ta. 17 February 2021, Wednesday

Prices of various domestic and imported edible oils rose in the Mumbai Oilseeds market today. However new demand was slow. World market news was encouraging. Manufacturing establishments were also firm. In the Mumbai market today, scattered trades of imported palm oil at hawala-resale ranged from Rs 115 to Rs 115 per 10 kg in ready delivery.

Soyoil traded between 1,150 and 115 tonnes for February and March deliveries of about 500 to 700 tonnes. In the global market, palm oil futures rose in Malaysia today, closing at 4.5 and 6 points higher in various deliveries, while soybean prices were up 16 points, soymeal 12 points, soyoil 12 points and cotton 7 points higher in the US agricultural markets overnight trade.

Soybean prices were seen bouncing as soybean crushing figures came in bullish. Soybean oil prices rose another 20 to 5 points in the projection this evening, while soybean and soymeal prices were also in the projection this evening.

In the Mumbai spot market, the price of 10 kg of cingulum oil rose by Rs 150, cottonseed oil by Rs 115 to Rs 1,150 and mustard by Rs 150. While the manufacturing establishments today increased the price of cotton washed by Rs 1,100 to Rs 1,100 to Rs 1,105. Today, the price of cingulum oil was Rs 120 to Rs 150 and Rs 15 to Rs 60 per 15 kg. Domestic soybean income was about 1 lakh times in Madhya Pradesh and All India income was about two lakh times.

In Madhya Pradesh, there were reports of prices ranging from Rs 30 to Rs 40 and plant deliveries from Rs 2,000 to Rs 4,050. In the Mumbai spot market, the price of 10 kg of imported palm oil rose by Rs 1,150, while crude palm oil CPO futures rose by Rs 105.50 and soyoil futures by Rs 1,151.50.

In the Mumbai spot market, soyoil prices rose to Rs 1,110 for Digam and Rs 1,150 for Rifa. While the price of Sun Flower was increased to Rs. 150 and Rs. Coparel was priced at Rs 1,200 per 10 kg. Castor oil prices rose by Rs. While the price of present castor was raised by Rs. In the Mumbai flour market today, the price of a ton of soymeal was increasing by Rs 200 to Rs 500 and was quoted at Rs 30 to Rs 40. The price was close to Rs 30,000.

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