MCX Service- Soybean and Soya oil trends

Due to lower purchasing, the prices of soybean futures (October) are expected to increase to Rs 3,345.

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Crushing is only crushing 80-82% of its capacity due to low demand of soymeal. Prices of soymeal are in the range of 27,000-27,500 rupees per tonne, while for the coming months, prices of soymeal are in the range of Rs 25,000-25,700 per tonne.

Prices of mustard futures (October) may have to face constraints at the level of Rs 4,260. Due to an increase in arrivals in the benchmark Jaipur market, prices of mustard, mustard oil, and mustard cake have declined. Demand has reduced after the prices of mustard cake have increased rapidly. There is a total of 2 lakh bags of mustard. In Jaipur, mustard prices are trading at Rs. 4,365-4,370 with a decline of Rs. 5. The demand for mustard oil and mustard cake is falling on high prices of mustard oil and mustard cake, which can prevent prices rise.Prices of soya oil (October) futures are likely to increase margin with support at the level of 730 rupees. At the same time, the prices of CPO (September) futures can be traded in a limited range within the range of Rs 592-598. The investor is disappointed with the weakening of the Indian rupee against the dollar, as the imports are costlier. The rupee depreciated 47 paise to 72.98 against the dollar.Get detailed equity Service provider right here at BSE & NSE. We provide Indian Stock market service like Equity Service, MCX, HNI & Currency Service | Ripples Advisory Private Limited

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