Markets were down on the last Friday of February. On the one hand, if Indian traders and traders continue to stagnate, there is a decline from the stock market to the money market and from the bullion market to the future market. When the Sensex-Nifty crash occurred, the golden glow faded. If silver weakened, the rupee also fell against the dollar. The fate of refined soy, soybean and cottonseed oil also fell on the NCDX due to an overall decline in the market.
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Refined soy futures fall
Amid a weak trend in the spot market, ula hoops have reduced the size of their businesses, with refined soybean oil prices trading at Rs 1,198.3 per 10kg on Friday. At the National Commodity and Product Exchange, futures contract for refined soybean oil for delivery in March declined by 1.8 kg or 0.15 per cent to Rs 1,198.3 per 10 kg. The contract is for 40,450 lots.
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The futures contract to supply refined soybean oil fell 3.2 per cent or 0.27 per 10 kg in April to Rs 1,187.9. The contract is for 20,145 lots. Market analysts say refined soybean oil prices have fallen mainly in futures trading as traders offload contracts against a number of stocks.
Soybean futures prices fell due to weak demand
Due to weak spot demand, traders cut their businesses, with a decline of Rs 28 per quintal in future trading to Rs 5,068 per quintal. In NCDX, the soybean distribution contract for the month of March declined by Rs 28 or 0.54, with a trading volume of 1,18,880 lots at Rs 5,068 per quintal.
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Soybean price for delivery in April is Rs. Or down 0.51 per quintal to Rs 5,029, trading at 1,08,075 lots. Market sources said the decline in the size of their trading was mainly due to the soybean futures decline.
The future of cotton seed oil is very weak
Considering the weak trend in the spot market, traders have been trading at their current level, which has reduced the price of cotton seed oil from Rs 41 per quintal to Rs 2,245 per quintal in the future. Market analysts said traders were selling at current levels amid weak trends in the market, mainly due to lower oil prices in cottonseed.
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In NCDX, the Binaulatel vacancy delivery deal is Rs 41 per quintal. Or 1.79 per cent down to Rs 2,245, a turnover of 1,05,660 lots. Binaulatel vacancy distribution deal with a transaction of 57,770 lots at Rs 38 per quintal. Or 1.65 per cent to Rs 2,272.
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