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
Dec 20, 2024
BRUSSELS. Wheat production has exceeded expectations in Argentina and Australia. The US funding bill will have quite an impact on corn. Exports are running smoothly for US soybeans. Rapeseed arrivals from Australia have revived activities in France and Belgium.
Oilseeds
Dec 19, 2024
NEW DELHI/ABUJA. Increased export prices have brought the sesame seed trade in Nigeria to a temporary standstill. In the Indian market, traders are stocking up for the upcoming public holidays in January.
Oilseeds
Dec 18, 2024
MOSCOW/BERLIN. Larger acreages for oilseeds, including sunflower seeds, are expected to bring a new record crop to the Russian market in the 2025/2026 season. Sunflower seeds are currently coming under price pressure in Bulgaria.
Nuts
Dec 16, 2024
NEW DELHI/BEIJING. The economic situation is forcing Chinese consumers to cut back on their purchases; Indian exporters are also clearly feeling the effects of this downturn. There is no end to the price declines.