01.06.2020 (Cogencis) - NEW DELHI – Following are the highlights of trading in edible oil markets today:

* At 1750 IST

   –June soybean contract on NCDEX was up 0.7% at 3,848.0 rupees per 100 kg

   –June refined soyoil contract on NCDEX was up 1.4% at 796.0 rupees per 10 kg

   –June crude palm oil contract on MCX was up 1.5% at 647.8 rupees per 10 kg

   –June mustard on NCDEX was up 1.6% at 4,567.0 rupees per 100 kg

* All components of the edible oil basket on domestic exchanges climbed higher due to the pick up in spot demand following relaxations in the lockdown, analysts said.

* The most active June soybean contract on NCDEX settled nearly 1% higher due to waning supply in spot markets following lean arrival season, traders said.

   > However, soybean contracts on CBOT fell as trade tensions between the US and China escalated. US is the world's top producer and China is the leading buyer.

* Refined soyoil on the NCDEX and crude palm on MCX were up as the government allowed restaurants and other eateries to remain open during the lockdown, dealers said.

   > Crude palm oil prices on the BMD, however, plunged tailing cues on Bursa Malaysia Derivatives.

   > Futures contracts of crude palm oil on the BMD settled lower today due to profit booking after a recent surge in prices, Ajay Kedia of Kedia Commodities said.  

* Mustard futures also settled higher on NCDEX as farmers sold their stock at the government procurement centres, lowering supply in spot markets, said Kotak Securities in a report.

End

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

http://www.cogencis.com/newssection/india-edible-oil-gains-soybean-ticks-up-nearly-1-on-lean-supply/