Soybean & Soy Oil

April 22, 2017 at 8:17 AM , Mark Overseas
Play report as audio

Increase in the production

Soybean prices rose higher in the international market by retrieving gains from the previous session’s decline even though the slow demand from U.S shipments kept cover on the market while corn edged higher after decreasing by 1 percent on Thursday. Soybeans are down to 0.7 percent by giving up some of last week’s gains.

Higher demand scenario in the Indian domestic markets amid poor selling from the sellers. It is also likely to take positive cues from overseas market which is at present trading up.

A recent USDA report shows that soybean planting is expected to be up nearly 10% from last year.

Which means a lot of farmers will shift from crops like wheat, corn to soybean.

Brazilian farmers are holding their crops anticipating higher prices. This may be favourable for US soybean exports in the short term.

The U.S Department of Agriculture reported that on Thursday the weekly export sales of soybeans decreased to 2,25,000 tonnes which is less as compared to the trade expectations of 4,00,000 to 8,00,000 tonnes.

Refined Soyoil at Indian futures platform may trade on a mixed note with positive bias on higher domestic demand for imported soyoil amid lower domestic crushing activity. Moreover, gradual rise in domestic soybean prices may get reflected on its derivative soyoil.

Further information

http://www.mark-overseas.com
Categories:

View related articles

Go to the News Overview
Grains
Nov 22, 2024
BRUSSELS. With the war in Ukraine taking new terrible turns concerns are growing that wheat and corn will be impacted. Rumour has it that France exported much more wheat to Morrocco than official figures suggest. US soybean exporters depend much less on China than one may think. Euronext rapeseed futures have slipped.
Oilseeds
Nov 21, 2024
NEW DELHI/BRASÍLIA. India's sesame seed exports increased significantly in volume terms in October 2024, while the export value rose only moderately due to lower prices. Despite a smaller crop, the recent price declines could be only temporary.
Oilseeds
Nov 21, 2024
CHRUDIM. Larger acreages and higher yields have significantly increased the Czech blue poppy seed crop this year. This has ensured that prices have become noticeably more favourable again compared to previous years.
Oilseeds
Nov 20, 2024
SOFIA/KYIV. Chaotic weeks lie behind the sunflower seed market. A few weeks before the turn of the year, things are now calming down and, according to market players, things could stay that way for the time being.