September 7, 2010

 

Indian refined soyoil futures gain on global cues

 

 

NCDEX September refined soyoil futures closed higher on September 6, tracking global cue and short covering after continuous fall in the previous days.

 

Overall, Open Interest in NCDEX Refined Soyoil futures has increased by 2.19% to 231,830.

 

Spread between NCDEX and MCX September contract is INR-0.20 (-US$0.0043) against previous day of INR-0.05 (-US$0.0011) per 10 Kg.

 

CBOT December soyoil futures ended higher at US$40.86 cents/pounds on Friday (Sep 3), up 0.66 cents/pounds as compared to previous close.

 

The Solvent Extractors Association (SEA) has recently noted that the edible oil stock at Indian Ports is 635,000 tonnes, up 10% over the month.