India Edible Oil: NCDEX soybean ends down nearly 1% on profit taking

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Friday, Jul 3

 

By Kaushal Verma

 

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NEW DELHI – Following are the highlights of trading in edible today: 

 

* At 1713 IST

   –July  contract was down 0.7% at 3,740.0 rupees per 100 kg on

   –July refined soyoil contract was down 0.1% at 808.3 rupees per 10 kg on NCDEX

   –July crude palm oil contract was down 0.5% at 661.3 rupees per 10 kg on MCX

   –July mustard contract was up 1.2% at 4,773.0 rupees per 100 kg on NCDEX

 

* After hitting a nearly one-week high of 3,790 rupees per 100 kg, soybean contract on the National Commodity and Derivatives Exchange closed lower today as traders booked profits, analysts said.

 

   “Higher sowing amid favourable weather conditions also weighed on ,” Indore-based trader N.K. Aggarwal said. 

* Refined soyoil contracts on NCDEX and crude palm oil on the Multi Commodity Exchange of India also fell as eroded at a higher price level, analysts said. rose earlier on firm buying from hotels, restaurants, and the catering sector.

 

* Losses in crude palm oil contracts on Bursa Derivatives also put contracts on MCX under pressure. Crude palm oil futures settled marginally lower on BMD due to profit booking after a recent rise in prices, said analysts.

 

* Mustard contracts on NCDEX settled higher following higher procurement by the government amid shrinking arrivals in spot , dealers said.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Subham Mitra

 

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Source: Cogencis

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