Oilseeds open up on record CBOT; monsoon weighs
The rise will not be substantial as global factors are being off-set by signs of revival of monsoon in soybean growing regions
By Agencies |
MUMBAI: Indian soybean and rapeseed futures opened up today tracking a firm soybean market on Chicago Board of Trade (CBOT), analysts said. However, good rains in last two days in the soybean growing regions has boosted the prospects of good sowing, which may keep gains limited, analysts said.
The rise will not be substantial as global factors are being off-set by signs of revival of monsoon in soybean growing regions, Ravi Bhushan, an analyst in ICICI Direct said. At 10:11 a.m. soybean August futures on the National Commodity and Derivatives Exchange rose 0.22 per cent to Rs2,745 per 100 kg.
The September rapeseed contract edged up 0.09 per cent to Rs684.25 per 20 kg. Soybean July futures on CBOT touched a new high at $16.20 a bushel during the electronic trade today.
The rise will not be substantial as global factors are being off-set by signs of revival of monsoon in soybean growing regions, Ravi Bhushan, an analyst in ICICI Direct said. At 10:11 a.m. soybean August futures on the National Commodity and Derivatives Exchange rose 0.22 per cent to Rs2,745 per 100 kg.
The September rapeseed contract edged up 0.09 per cent to Rs684.25 per 20 kg. Soybean July futures on CBOT touched a new high at $16.20 a bushel during the electronic trade today.
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