Six per cent bearish circuit in soybean futures

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(Gujarat News Office) MUMBAI: Soybean prices broke a record high in the Mumbai oilseeds market today and prices in the spot and futures markets plunged sharply. The soybean futures market witnessed a series of bullish circuits recently, indicating a six per cent bearish circuit today. The market panicked as soybean futures increased margins. The highs also turned out to be a lucrative sell-off.

Soybean futures fell to Rs 50 per quintal in August futures this evening. While September futures prices were quoted at Rs. In Madhya Pradesh, the spot prices of soybean were quoted at Rs 200 to Rs 500 and plant delivery at Rs 200 to Rs 500. Which had recently reached a high of Rs 10,000. In Madhya Pradesh today, soybean income was around 30,000 times and All India income was about 6,000 times.

Meanwhile, soyoil futures fell by Rs 2.50 to Rs 151 this August. On the other hand, crude palm oil CPO August futures fell by Rs 2.50 to Rs 115. Mustard futures also saw a retreat. Soybean prices also fell sharply today as soybean prices fell. In the Mumbai flour market, the price of a tonne of soymeal, which had gone up to close to Rs 2,000, was trading today at around Rs 31,400 to Rs 715.

Meanwhile, in the Mumbai spot market, the price of 10 kg of cingulum oil was quoted at Rs 150, cottonseed oil at Rs 120-13, mustard at Rs 1,210 and refined at Rs 150.

The prices of cingulum oil were Rs 150 per kg and Rs 210 to Rs 30 per 15 kg, while the prices of cottonseed were reported to be Rs 12-15 per kg. Meanwhile, the price of imported palm oil in the Mumbai market today was Rs 120 to Rs 14. In palm oil, barely 100 tonnes were traded in hawala resell today. Crude palm oil CPO Kandla was trading at Rs 1,150 to Rs 115 today.

In Malaysia, palm oil futures, however, declined by 9, 12, 13 and 8 points in various deliveries, while palm product prices fell by ૨ 16.50 to ૭ 16.50. Soyoil and palm oil prices remained soft in the Chinese market today. While soybean and soymeal prices were higher. There was talk in the market that the government had decided to reduce the tax on palm oil exports from Indonesia to ૯૩ 3 a tonne in August.

Meanwhile, soybean prices rose by 3 points in overnight trade in US agricultural markets. While soyoil prices were up 3 points. On the other hand, soyoil prices were 14 points softer. While cotton prices were quoted 3 points higher. At home today, Mustard's revenue was about 1 lakh times on the Rajasthan side and All India's revenue was about 3 lakh 6 thousand times.

In Rajasthan, the prices were quoted at Rs 500 to Rs 8. The prices of various deliveries at Mundra-Hazira ranged from Rs 150 to Rs 150 for palm oil, Rs 1,200 to Rs 1,310 for soyoil and Rs 150 to Rs 12 for sunflower. In the Mumbai spot market, castor oil fell by Rs 15 today. While the present castor price was broken at Rs.

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