Soybean futures jumped another six per cent to a record high of Rs 10,000

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(Gujarat News Office) MUMBAI: Market players were stunned today as soybean futures advanced to a record high and prices rebounded by another six per cent in the Mumbai Oilseeds market. Today, soybean futures were quoted at Rs.

September futures prices were significantly lower against August. The week saw a one-day bearish circuit on Monday, Tuesday and Wednesday after the bullish circuit took effect, followed by a six-six per cent bullish circuit on Thursday and Friday as prices rebounded.

In Avik, futures prices jumped by about Rs 2,000 to a record high of Rs 10,000. Crop and planting directions were showing signs of recovery and there was a shortage of moving goods in the spot, market sources said.

In the global market, palm oil futures prices in Malaysia fell by 12, 3, 4 and 5 points in various deliveries today, while palm product prices fell by ૫ 8 to ૧૦ 10 today. Total palm oil exports from Malaysia are expected to fall by about 3 to 4 per cent in July, world market analysts said today. Palm oil prices rose in China today while soyoil prices fell.

With the rise in soybean prices, the price of soymeal in the Mumbai flour market today jumped by an additional Rs 2,000 to Rs 3,100 per tonne, crossing the Rs 6,000 level and touching Rs 200 to Rs 500. Other holes were also raised. The price of groundnut flour had gone up by Rs 1,000 per tonne to Rs 30,000 today while the price of sunflower meal had gone up by Rs 200 to Rs 2,000. Castor meal prices rose by Rs 100 to Rs 50 per tonne. In the Mumbai spot market today, soyoil prices rose by Rs 150 for digam and Rs 1,200 for refined.

Imported palm oil was priced at Rs 15-16. Today, palm oil traded at around Rs 120-16 per tonne in hawala-resale, while refinery direct delivery traded at around Rs 100-150 per tonne at Rs 115 per tonne for August. In the futures market this evening, however, soyoil futures were soft at Rs 5-7 while crude palm oil CPO futures were down by Rs 15-16.

In the Mumbai spot market, cottonseed oil prices rose to Rs 1,305 today. While the cingulum oil was quiet. Mustard prices rose to Rs 120 and refined to Rs 150. Castor present and present castor were quiet. Cotton washed prices were hovering between Rs 150 and Rs 15 today. In the castor futures market, August prices fell by Rs 15 to Rs 20 in the evening.

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