Commodities

Soya rally comes to a halt

Our Correspondent Indore | Updated on January 20, 2018 Published on April 25, 2016

BL26-SOYABEAN





Rally in soya oil and soyabean continuing for the past sometime ended today on weak global cues with soya refined declining to ₹655-58 for 10 kg, while soya solvent declined to ₹625-30. Soya seeds in the physical market declined to ₹4,150 a quintal on weak global cues while soyabean futures crashed four per cent. Plant deliveries ruled at ₹4,175 a quintal (up ₹50 from last week) on weak availability of soya seeds with the crushers. Given favourable monsoon report this year, long rally appears unlikely, said Sanjay Agrawal, a trader, while another section of traders feel that soyabean may see further rally in its prices, given lower domestic crop output and damage to soyabean crop in Brazil due to heavy rains there. Soyameal ruled stable at ₹35,000 a quintal.

Published on April 25, 2016
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