Indian Soy oil market shows weakness on lacklustre physical market demand. The spot market prices have fallen.
As we stated in our earlier post that soy oil was getting resistance on higher level and buyers were reluctant to make fresh buy at higher levels.
If we look at the global vegetable oils supplies, we find that fundamentals are in favor of bears. (Please check the earlier post : 9 Feb 2015: WORLD VEGETABLE OILS FUNDAMENTALS FOR 2014-15)....
The current market situation suggest that market is unlikely to witness any major upside in near future.
Currently the NCDEX Soy oil Feb contract trades at 613.15 (-1.26%) at 4.39 IST.
As we stated in our earlier post that soy oil was getting resistance on higher level and buyers were reluctant to make fresh buy at higher levels.
If we look at the global vegetable oils supplies, we find that fundamentals are in favor of bears. (Please check the earlier post : 9 Feb 2015: WORLD VEGETABLE OILS FUNDAMENTALS FOR 2014-15)....
The current market situation suggest that market is unlikely to witness any major upside in near future.
Currently the NCDEX Soy oil Feb contract trades at 613.15 (-1.26%) at 4.39 IST.
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