Domestic Oilseeds Likely To Witness Mixed Trend

Indian Soya Oil futures August delivery eased after hitting the Rs 800 mark level on NCDEX; lead by profit taking.

Oilseeds gained massively on strong gains in the global markets, weak local sowing reports. The acreage under oilseeds come down by 13.60% to 67.7 lakh hectare as on 13th July 2012.

Palm Oil futures spurted during the Asian market trading session with most active September contract trading up at MYR 3142, up MYR 71 per tonne. The e-CBOT Soya oil August contract trading up at 54.54 cents per pound, up 0.84 over Friday close.

The NYMEX August Crude Oil is trading with nominal losses at $ 86.92, down 0.18 per barrel during the electronic trading session.

The local currency appreciated further with INR easing below the Rs 55 mark per greenback level in the early Asian market trading session. Indian rupee quoting near strong support level at Rs 54.80, 0.65% appreciated against the greenback.  [ Via ]

Posted in: commodity news,market news,trading news