Boiling News & Veg Oils ,crude

Spot Soya oil prices - July 28
28 Jul 2008 12:52 pm

Mumbai - Following are soy oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Soy oil 28/07/08 26/07/08
Min Max Min Max
Mumbai 618 619 620 621
Indore 628 629 630 631
*Akola 655 656 658 659
Alwar 645 646 645 646
*Amravati 655 656 656 657
Bharatpur 645 646 645 646
Bundi 640 641 640 641
Chennai 630 631 630 631
*Kolkata 675 676 680 681
Hyderabad 640 641 640 641
*Jalana 655 656 655 656
Kakinada 620 621 620 621
Kandla 635 636 622 623
*Kanpur 675 676 670 671
*Latur 650 651 650 651
Manglore 630 631 630 631
*Nagpur 656 666 657 660
*Nandad 648 649 648 649
Rajkot 635 640 620 625
*Solapur 650 651 650 651

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Spot Mustard oil prices - July 28
28 Jul 2008 12:51 pm

Mumbai - Following are Mustard expeller oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Mustard Oil 28/07/08 26/07/08
Min Max Min Max
Mumbai 658 659 665 666
Alwar 650 651 650 651
Bharatpur 650 651 650 651
Bikaner 647 648 645 650
Bundi 647 650 647 650
Charkhi Dadri 667 668 670 671
*Delhi 676 677 680 681
Haldiya port 750 751 750 751
Jaipur 657 658 657 658
Kanpur 670 671 660 661
Kota 652 653 652 653
Ludhiyana 680 681 680 681
Sriganganagar 645 650 650 651

Spot Groundnut oil prices - July 28
28 Jul 2008 12:48 pm

Mumbai - Following are groundnut oil prices of various markets in India at morning session. All prices are in Rs. per 10kg, Excluding Value added Tax (VAT).

Groundnut oil 28/07/08 26/07/08
Min Max Min Max
Mumbai 710 711 710 711
Rajkot 680 700 690 700
Hyderabad 690 691 690 691
Ahemdabad 700 701 700 705
Chennai 650 651 640 641
Kurnool 675 676 675 676
Narsarropeth 660 661 670 671
Prodattour 665 666 665 666
Bikaner 640 641 645 646

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Spot Sunflower oil prices - July 28
28 Jul 2008 12:45 pm

Mumbai - Following are sunflower expeller oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Sunflower oil Exp 28/07/08 26/07/08
Min Max Min Max
Bellary 634 635 630 631
Chellakere 630 631 615 620
Chennai 645 646 635 636
Erode 620 621 625 626
*Hyderabad 650 651 650 651
Mumbai 635 636 635 636
Ludhiyana 580 581 580 581
Latur 610 611 610 611

Oilseeds dip on global losses, rains
29 Jul 2008 10:46 am

Mumbai – Indian vegetable oilseed futures were trading down taking leads from strong losses in the global edible oil markets. The revival of monsoon in major khariff oilseed tracts, reduction of concerns for growing crops and expectation of quick completion of delayed sowing is also adding to the selling pressure.



Malaysian palm oil futures has ended the morning session at a down, at a seven-month low, below the psychological level of MYR 3,000 a tonne, taking leads from losses in US soy oil on e-CBOT. The US soy complex closed tad up overnight and consolidation of previous losses. However, the market is trading sharply down currently, with August soy oil and August soybean quoting down by 84 points and 6.50 cents on e-CBOT.



U.S. crude oil futures moved up overnight with September contract at New York Mercantile Exchange closing higher by $1.47 at $124.73 a barrel. The contract is trading tad up currently too at $ 125.1 a barrel.



The Indian oilseeds are trading down tracking the losses in the global edible oil markets. The revival of monsoon and reduction of concerns for the growing khariff crops are adding to the weak sentiments. The Government of India officially commenced the distribution of subsidized edible oils to poor families from yesterday, which will improve the supply and reduce demand to some extent.



The weakness in the global edible markets is the major reason for the recent fall in the domestic prices. The record high stocks of palm oil, increase in supply from Argentina and the sharp correction in crude oil prices have resulted in the heavy fall in global prices. The prices of soy oil and palm oil in the overseas markets have fallen by around $ 100 - 120 a tonne in the past two weeks, forcing the domestic prices to also correct. The India Rupee has also strengthened sharply in the past fortnight, making imports cheaper.



Though, demand from consumers is expected to escalate in August to meet festival requirements, market is not expecting any significant supply tightness. Stockists and the entire pipeline are well-stocked in anticipation of the rise in demand.



The September soybean contract at National Commodity Derivatives Exchange [NCDEX] at 10.30 hours is trading lower at Rs. 2,472.00 [- 20.50] per 100 kg with 17,460 tonnes traded. The August contract at National Board of Trade [NBOT] is down at Rs. 2,553.00 [- 22.00] per 100 kg.



August CPO at Multi Commodity Exchange of India is down at Rs. 443.50 [- 4.70] per 10 kg with 270 tonnes traded tracking the losses in Malaysian palm oil futures.



Crude Palm Oil [CPO] at the Bursa Malaysia Derivatives [BMD] has ended the morning session down, falling below MYR 3,000 a tonne for the first time in 2008 on expectations of a sharp rise in output and weakness in US soy oil on e-CBOT. Traders are expecting Malaysia’s July palm oil output to rise sharply by 15%-20% on month, as July marks the beginning of the peak production quarter.



The benchmark October contracts has ended the session down at MYR 2,965.00 [- 36.00] a tonne with 5,312 lots traded. [MYR=Malaysian Ringitt][1 lot=25 tonnes]



The US soy complex closed tad up on Monday on consolidation of losses made in the previous two weeks amid weather concerns for the growing crops as they enter the critical pod-setting stage. Gains in crude oil also supported the gains.



August soybeans settled 1 1/2 cents higher at $14.00 1/4 and November soybeans ended 9 1/2 cents higher at $13.96. December soymeal settled $4.10 higher at $364.30 per short ton. December soy oil finished 15 points higher at 60.60 cents per pound.



MUSTARD SEED



Mustard seed futures is trading down tracking the losses in domestic soybean and global edible oil markets. The revival of monsoon in the major oilseed tracts, forecast for further showers and easing of concerns for the upcoming khariff oilseeds crops are keeping the fundamentals bearish as a good khariff output would reduce the demand for mustard seed from October and limit its long-term gains.



Most active mustard seed September futures on NCDEX is trading lower at Rs. 619.85 [- 0.90] per 20 kg with 24,970 tonnes traded.



The regional markets are down with August contract at Hapur quoting at Rs. 622.25 [- 1.00] per 100 kg.



CASTOR SEED



Castor seed is trading positively, with short covering of yesterday’s losses being seen. However, the selling pressure is still strong on account of the revival of the monsoon after the recent dry spell. The August castor seed at NCDEX is trading higher at Rs. 631.40 [+ 3.40] per 20 kg with 210 tonnes traded.

Spot Soya oil prices - July 29
29 Jul 2008 12:55 pm

Mumbai - Following are soy oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Soy oil 29/07/08 28/07/08
Min Max Min Max
Mumbai 616 617 618 619
Indore 622 623 628 629
*Akola 655 656 655 656
Alwar 638 640 645 646
*Amravati 652 653 655 656
Bharatpur 638 640 645 646
Bundi 632 633 640 641
Chennai 625 626 630 631
*Kolkata 670 671 675 676
Hyderabad 635 636 640 641
*Jalana 655 656 655 656
Kakinada 615 616 620 621
Kandla 620 621 635 636
*Kanpur 675 676 675 676
*Latur 645 646 650 651
Manglore 625 626 630 631
*Nagpur 653 657 656 666
*Nandad 640 641 648 649
Rajkot 620 622 635 640
*Solapur 645 646 650 651


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Spot Mustard oil prices - July 29
29 Jul 2008 12:53 pm

Mumbai - Following are Mustard expeller oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Mustard Oil 29/07/08 28/07/08
Min Max Min Max
Mumbai 658 659 658 659
Alwar 645 646 650 651
Bharatpur 645 646 650 651
Bikaner 640 641 647 648
Bundi 640 641 647 650
Charkhi Dadri 660 661 667 668
*Delhi 670 671 676 677
Haldiya port 750 751 750 751
Jaipur 653 654 657 658
Kanpur 670 671 670 671
Kota 648 649 652 653
Ludhiyana 670 671 680 681
Sriganganagar 640 645 645 650

Spot Groundnut oil prices - July 29
29 Jul 2008 12:52 pm

Mumbai - Following are groundnut oil prices of various markets in India at morning session. All prices are in Rs. per 10kg, Excluding Value added Tax (VAT).

Groundnut oil 29/07/08 28/07/08
Min Max Min Max
Mumbai 710 711 710 711
Rajkot 700 710 680 700
Hyderabad 690 691 690 691
Ahemdabad 690 695 700 701
Chennai 650 651 650 651
Kurnool 675 676 675 676
Narsarropeth 650 651 660 661
Prodattour 665 666 665 666
Bikaner 640 641 640 641

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Spot Sunflower oil prices - July 29
29 Jul 2008 12:51 pm

Mumbai - Following are sunflower expeller oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Sunflower oil Exp 29/07/08 28/07/08
Min Max Min Max
Bellary 633 634 634 635
Chellakere 625 626 630 631
Chennai 645 646 645 646
Erode 625 626 620 621
*Hyderabad 655 656 650 651
Mumbai 630 631 635 636
Ludhiyana 580 581 580 581
Latur 610 611 610 611

Oilseeds mixed in rangebound trade
30 Jul 2008 10:43 am

Mumbai – Indian vegetable oilseed futures were trading mixed in a range-bound manner with sentiments weak amid negative global cues and revival of monsoon Wednesday. However, fresh buying at low levels is limiting the losses.



Malaysian palm oil futures has ended the morning session down tracking the overnight and current losses in US soy oil. The US soybean and oil closed down on overnight on lack of sustained weather concerns and losses in crude oil. Soymeal closed up. The market is trading mixed currently, with August soy oil and August soybean quoting by [-] 12 points and [+] 6.25 cents on e-CBOT.



The energy markets tumbled overnight with September crude at New York Mercantile Exchange fell by $2.54 to $122.19 a barrel, the lowest close since May 6. Oil, which surged to a record $147.27 a barrel on July 11, dipped as low as $120.42 yesterday.



The Indian oilseeds are trading mixed in range-bound trading with soybean marginally up. The overnight gains in US soymeal and the current gains in US soybean are supporting the marginal gains in Indian soybean. Some buying interest is also being seen at the lower levels.



However, the sentiments are weak on account of the losses in the global edible oil and energy markets. The good rains over major oilseed tracts yesterday and forecasts for further rains are also contributing to the weak sentiments. The global edible oil markets are continuing to fall driven by the huge losses in the energy markets, prospects for a good US soy harvest, commencement of seasonal high production and record stocks in palm oil. Market talks that China is contemplating to sell edible oil stocks from its strategic reserves has added to the weakness in the global markets as it would decrease the demand from China.



Rainfall has been vigorous and widespread over Maharashtra, Andhra Pradesh, Karnataka and Gujarat, with scattered seen over Madhya Pradesh yesterday as reported by the Indian Meteorological Department [IMD]. The IMD has forecasted widespread rainfall over south Madhya Pradesh, entire Maharashtra, Gujarat, Telangana, coastal Karnataka and Kerala during next 48 hours.



The September soybean contract at National Commodity Derivatives Exchange [NCDEX] at 10.30 hours is trading higher Rs. 2,498.00 [+ 8.00] per 100 kg with 11,870 tonnes traded. The August contract at National Board of Trade [NBOT] is up at Rs. 2,498.00 [+ 8.00] per 100 kg.



August CPO at Multi Commodity Exchange of India is down at Rs. 440.00 [- 2.70] per 10 kg with 530 tonnes traded tracking the losses in Malaysian palm oil futures.



Crude Palm Oil [CPO] at the Bursa Malaysia Derivatives [BMD] has ended the morning session down driven by huge overnight losses in US soy oil and crude oil. The reports of China planning to release edible oils from strategic reserves added to the losses. However, buying interest at low levels, limited the losses.



The benchmark October contract has ended the session down at MYR 2,931.00 [- 38.00] a tonne with 3,876 lots traded. [MYR=Malaysian Ringitt][1 lot=25 tonnes]



The US soy complex closed down on Tuesday on lack of sustainable weather threats and bearish influences from related markets. The firmer U.S. dollar, weakness in crude oil futures and sharp declines in Asian markets earlier were largely responsible for the losses. However, the losses were limited by indication of hot weather in major crop tracts in the near-term. Soymeal bounced up from earlier losses to close higher on indications of good demand and technical short covering.



August soybeans settled 16 cents lower at $13.84 1/4 and November soybeans ended 5 cents lower at $13.91. December soymeal settled $5.20 higher at $369.50 per short ton. December soy oil finished 152 points lower at 59.08 cents per pound.



MUSTARD SEED



Mustard seed futures is trading marginally down in range-bound trading with market worried over the losses in the global edible oil, energy markets and the revival of monsoon in the major oilseed tracts across India. However, fresh buying at lower levels and the current modest gains in domestic soybeans are limiting the losses.



Most active mustard seed September futures on NCDEX is trading lower at Rs. 621.95 [- 0.85] per 20 kg with 17,110 tonnes traded.



The regional markets are down with August contract at Hapur settling at Rs. 624.25 [- 0.50] per 100 kg.



CASTOR SEED



Castor seed is trading higher with fresh buying being seen after the recent spate of losses. Reports of strong upcoming exports, increase in demand of castor seed from crushing unites and arguments about rains still keeping away from major castor seed tracts of north Gujarat are supporting the gains.



Most active castor seed August futures on NCDEX is trading higher at Rs. 637.20 [+ 5.60] per 20 kg with 310 tonnes traded.

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Mumbai edible oil prices - July 30
30 Jul 2008 10:16 am

Mumbai - Following are the prices of various edible oils at the Mumbai market as on 10.10 a.m. (IST). All prices are in Rs. per 10kg.Excluding Value added Tax (VAT) Variety/Day
29/07/08 30/07/08 Change
Sunflower oil Exp
630 610 -20
oil Ref
685 675 -10
Groundnut oil
710 710 -
RBD Palmolein
518 515 -3
Cottonseed oil ref
616 615 -1
Mustard oil
658 655 -3
Ref Soy oil
616 617 +1

Product: FOB Malaysian ports- July 30
30 Jul 2008 10:17 am



Mumbai - Following rates were quoted for RBD Palmolein in India on FOB Malaysian port conditions.

Month
US $/ Per tonnes

Aug
1030

Sep
1030

Oct
1030


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Castor Seed NCDEX Aug
30 Jul 2008 8:54 am



The trend is down

The market could not violate the major support level of Rs 624.3. Closing below Rs 624.3 the market is expected to come down to Rs 597.

As the trend is still down therefore enter fresh short below Rs 624.3 with stop loss above Rs 630

INTRA-DAY LEVELS

Last Close
Daily Closing Reversal

Point
Level 1
Level 2
Center Point
Level 3
Level 4

633.5
648.3
623.5
628.5
632.0
637.0
.640.5

Soybean crop may cross 1 cr tons
31 Jul 2008 1:32 pm

Singapore - India's 2008 soybean crop may top last year's record crop of one crore metric tons, an industry executive said Thursday.

"The rains this week have come as a boon for the soybean crop in Madhya Pradesh and Maharashtra states and this augurs well for the crop," said Rajesh Agrawal, a current member and past chairman of the Soybean Processors' Association of India. He added the crop may exceed or at the very least equal last year's crop.

India's soybean crop was in a critical state in the last two weeks after scant rains in the key growing states of Maharashtra and Madhya Pradesh raised concerns of a fall in output and yield.

Agrawal said the country's soybean crop acreage could reach 90 lakh hectares this year, compared with around 80 lakh hectares last year. Sowing of the crop will mostly conclude over the weekend. However, Agrawal said the crop will need more rains between Aug 15 and Aug 30, as the crop matures.

Oilseeds sharply up on global cues
31 Jul 2008 10:22 am

Mumbai – Indian vegetable oilseed futures were trading higher supported by overnight rally in US crude oil, soy complex and the current gains in Malaysian palm oil futures. However, the anticipation of strong rise in acreage in Friday’s Crop Progress report on account of the strong revival of monsoon this week, is putting a cap on the gains.



Malaysian palm oil futures has ended the morning session higher supported by strong improvement in July exports and sharp overnight gains in crude oil. The US soy complex closed higher on Wednesday on weather uncertainties and rally in crude oil. However, it is trading down currently with August soy oil and August soybean quoting down by 16 points and 0.50 cents on e-CBOT.



The energy markets rallied overnight with September crude at New York Mercantile Exchange rising by $4.58 to settle at $126.77 a barrel. The market had touched a low of $120.42 on Tuesday, the lowest since May 6.



The Indian oilseeds is trading higher supported by the gains in the global edible oil markets and the overnight rally in crude oil. The anticipation of demand picking up from the next week, as August marks the beginning of the seasonal high demand season is also supporting speculative buying.



However, yesterday’s gains in Indian markets, good rains in major oilseed tracts and expectation of strong improvement in acreage under oilseeds in tomorrow’s Crop Progress report are preventing the market from staging a strong rally.



The domestic oilseed futures had risen sharply yesterday on short-covering of previous week’s losses and speculative buying, despite the negative cues from the global markets, which is limiting today’s gains in Indian oilseeds.



Fairly widespread rains have been reported across the major oilseed tracts of Madhya Pradesh, Maharashtra, Gujarat, Andhra Pradesh and Karnataka yesterday. However, while good rains are expected continue along the west coast, Madhya Maharashtra and south Gujarat today, it is expected to slow down in central India as forecasted by the Indian Meteorological Department [IMD].



The September soybean contract at National Commodity Derivatives Exchange [NCDEX] at 10.15 hours is trading higher Rs. 2,532.00 [+ 9.00] per 100 kg with 5,770 tonnes traded. The August contract at National Board of Trade [NBOT] is up at Rs. 2,614.00 [+ 8.50] per 100 kg.



August CPO at Multi Commodity Exchange of India is up at Rs. 447.00 [+ 4.40] per 10 kg with 130 tonnes traded.



Crude Palm Oil [CPO] at the Bursa Malaysia Derivatives [BMD] has ended the morning session higher tracking a sharp rise in exports and the rebound in crude oil prices. CPO futures rose above MYR 3,000 at the opening bell itself - after two successive days of trading below this level, for the first time in 2008.



Cargo surveyor, Intertek Agri Services has estimated Malaysia’s July palm oil exports at a seven month high of 1.38 million tonnes - up 26.6% on month - close to market expectations of around 1.37 million tonnes.



The benchmark October contract has ended the session higher at MYR 3,046.00 [+ 54.00] a tonne with 3,328 lots traded. [MYR=Malaysian Ringitt][1 lot=25 tonnes]



The US soy complex closed higher on Wednesday rebounding from early losses, supported by the rally in crude oil. While, lingering uncertainties surrounding weather, crop yield potential, acreage, demand and absence of any bearish fundamental limited the early losses, the late $ 4 rally in crude oil pushed up the complex towards closing.



August soybeans settled 9 3/4 cents higher at $13.94 and November soybeans ended 14 cents higher at $14.05. December soymeal settled $6.70 higher at $376.20 per short ton. December soy oil finished 40 points higher at 59.48 cents per pound.



MUSTARD SEED



Mustard seed futures is trading higher supported by the gains in domestic soybean and Malaysian palm oil futures. The overnight rally in US soy and energy markets is also supporting the positive tone. The demand for mustard oil is also expected to pick up in August to meet the festival requirement as other domestic edible oils are in short supply.



Most active mustard seed September futures on NCDEX is trading higher at Rs. 634.65 [+ 2.85] per 20 kg with 11,250 tonnes traded.



The regional markets are up with November contract at Hapur quoting at Rs. 662.00 [+ 3.25] per 100 kg.



CASTOR SEED



Castor seed closed is trading higher continuing yesterday’s limit up gains on worries of supply shortage before new crop arrivals and uncertainty regarding castor seed acreage in Gujarat.



The fresh crop arrivals are expected only from late December against the usual late October due to delay in sowing in Andhra Pradesh. The revival of monsoon has increased the sowing of groundnut and cotton in Gujarat. The picture regarding castor seed acreage will be clear only after sowing of castor commences in Gujarat from August.



Most active castor seed August futures on NCDEX is trading higher at Rs. 662.60 [+ 6.60] per 20 kg with 290 tonnes traded.

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Spot Soya oil prices - July 31
31 Jul 2008 1:00 pm

Mumbai - Following are soy oil prices of various markets in India at morning session. Prices are in Rs. per 10kg, Excluding Value added Tax (VAT).*indicate all paid rates.

Soy oil 31/07/08 30/07/08
Min Max Min Max
Mumbai 615 616 617 618
Indore 615 616 614 615
*Akola 650 651 650 651
Alwar 635 636 634 635
*Amravati 648 649 648 649
Bharatpur 635 636 634 635
Bundi 630 631 630 631
Chennai 630 631 625 626
*Kolkata 670 671 670 671
Hyderabad 630 631 640 641
*Jalana 645 646 642 643
Kakinada 610 611 610 616
Kandla 620 621 620 621
*Kanpur 670 671 660 661
*Latur 640 641 645 646
Manglore 623 624 620 621
*Nagpur 648 657 654 658
*Nandad 638 639 642 643
Rajkot 613 615 616 618
*Solapur 640 641 645 646

Spot Groundnut oil prices - July 31
31 Jul 2008 12:52 pm

Mumbai - Following are groundnut oil prices of various markets in India at morning session. All prices are in Rs. per 10kg, Excluding Value added Tax (VAT).

Groundnut oil 31/07/08 30/07/08
Min Max Min Max
Mumbai 705 706 710 711
Rajkot 690 705 690 700
Hyderabad 680 681 670 671
Ahemdabad 695 700 690 695
Chennai 630 631 640 641
Kurnool 670 671 675 676
Narsarropeth 660 661 640 641
Prodattour 665 666 665 666
Bikaner 640 641 640 641

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Maharashtra soybean plant rates - July 31
31 Jul 2008 2:50 pm

Mumbai - Following are the rates offered by soybean plants in Maharashtra today.

Plant
Place
Rates

Kirti
Krishnur
2700

Kirti
Latur
2700

Tina
Latur
2690

Srinivasa
Nanded
2660

New Mah
Dhulia
2730

Disan
Dhulia
2735

Sanjay soya
Dhulia
2735

Chakan
Sangli
2700

Bhakti exp
Jalna
2720

Shivparvati
Hingoli
2625

Siddharth
Akola
2611

Bhaskar
Nagpur
2680

Shamkala
Bhandara
2690

Tanya
Nagpur
2680