25/01/2012 (Moneycontrol.com) - Nirmal Bang has come out with its report on oil and oilseeds. As per the research firm CPO is expected to trade higher today.

Soy oil ended higher by 0.46%. Palm oil ended higher by 0.04%. RM seed ended lower by 0.95%

Oilseeds and soy oil futures rose on good demand in spot market and a rise in U.S. soybean prices. A drop in rapeseed area was also underpinning sentiment. Indian farmers have planted rapeseed on 6.48 million hectares in the Oct. 1 to Jan. 13 period, down from 6.82 million hectares a year earlier. In the Indore spot market, soy oil rose 4.2 rupees to 704.85 rupees per 10 kg, while soybean climbed up 20 rupees to 2,464 rupees per 100 kg. At Sri Ganganagar in Rajasthan, rapeseed edged up 8 rupees to 3,504 rupees per 100 kg. Brazil is likely to produce 70.2 million tonnes of soy in the 2011/2012 season, consultancy AgRural said on Monday, lowering its estimate from a previous 73.1 million after a severe drought has hit key growing areas.

Outlook for Soybean is seen up for the day. CPO is expected to trade higher.