Soybean futures rebound bullish circuit

(Gujarat News Office) MUMBAI: Cingulum oil prices remained soft in the Mumbai oilseeds market today. However, prices of various imported edible oils rose today. In the global market, palm oil futures in Malaysia rose by 6, 7, 8 and 9 points in various deliveries today.

While there, the price of palm products was raised by થી 10 to 15. However, there were indications that palm oil production would increase by about 11 to 12 per cent in the first 30 days of August. However, prices of palm oil, soyoil, soybean and soymeal remained soft in Chinese markets. In the US agricultural markets, soybean oil prices were 15 to 18 points higher in the projection this evening.

Besides, soybean and soymeal prices were also projected to be higher in the projection today. In the domestic futures market, soybean futures rebounded in the first phase of the 4 per cent upper circuit and then rose further to 6.5 per cent today. Soybean September futures were at Rs 515 in Kiev this evening.

Soybean revenue was 7,000 times in Madhya Pradesh and about 30,000 times in All India today, while mustard seed revenue was 40,000 times in Rajasthan and 1 lakh 6,000 times in All India. The spot price of mustard seed in Rajasthan was quoted at Rs. 200 to Rs. 4 per kg. Mustard futures were trading at Rs 150 to Rs 12 in the evening today.

In the Mumbai spot market, the price of 10 kg of cingulum oil was down by Rs 150 today, while cottonseed oil was quoted at Rs 1,205, mustard oil at Rs 150 and refined at Rs 1,200. The price of cingulum oil was Rs 1,200 to Rs 12 per kg and Rs 200 to Rs 310 per 15 kg. Prices of cotton washed ranged from Rs 150 to Rs 15 per quintal. In the Mumbai spot market, imported palm oil was trading at Rs 150 today.

Hawala: In resale, 100 to 150 tonnes were traded at Rs 150 to Rs 12 in ready delivery. Crude palm oil CPO Kandla was trading at Rs 1,150 while CPO futures and soyoil futures were trading at Rs 2.50 to Rs 4.00 plus this evening. Late in the evening, soyoil prices were projected to be 15 to 120 points higher in the US projection. Soybean prices also rose there. While the soymeal was not soft late in the evening.

Meanwhile, in the Mumbai market today, the price of sunflower was Rs 150 and refined Rs 150, while the spot price of soyoil was Rs 150 and refined was Rs 150. Castor oil prices were hovering around Rs 12 per 10 kg today, while Mumbai spot castor oil prices were hovering around Rs 5 per kg. In the castor futures market, the September futures rose by Rs 150 to Rs 4,000 and were quoted at Rs 305.

In the Mumbai flour market today, the price of a tonne of groundnut flour fell by Rs 500 to Rs 1,000 while the price of castor flour went up by Rs 30 to Rs 40. There were indications that soybean oil exports from Argentina in 20 days were 3 lakh 6 thousand tons, soybean exports were 8 lakh 21 thousand tons and soymeal exports were 12 lakh 50 thousand tons.