Cogencis (08/06/2020) - NEW DELHI – Following are the highlights of trading in edible oil markets today: 

* At 1625 IST

–July soybean contract on NCDEX was down 1.3% at 3,844.0 rupees per 100 kg

–July refined soyoil contract on NCDEX was up 0.6% at 804.2 rupees per 10 kg

–June crude palm oil contract on MCX was up 1.3% at 660.0 rupees per 10 kg

–July mustard on NCDEX was up 0.2% at 4,631.0 rupees per 100 kg

* Futures contracts of soybean fell on the NCDEX on likely higher acreage in upcoming kharif season, analysts said.

* Acreage under soybean crop is likely to rise by around 10% to nearly 12.4 mln ha in 2020-21 (Jul-Jun) kharif season, market players said.

* Soybean contracts on the Chicago Board of Trade rose on firm demand for the oilseed from China, the world's top buyer, analysts said.

* Refined soyoil on the NCDEX and crude palm oil on the MCX rose due to pick up buying in the physical markets amid lower imports, traders said. 

* Prices of crude palm oil on BMD were unavailable today as the exchange was shut on account of a public holiday. The bourse will resume trading on Tuesday.

* Mustard contracts on NCDEX rose due to higher procurement at minimum support price from farmers, analysts said.  End

 Edited by Arshad Hussain

Read more at http://www.cogencis.com/newssection/india-edible-oil-soybean-falls-on-likely-higher-acreage-cpo-up/