11.08.2020 (www.cogencis.com) - NEW DELHI – Contracts of all components of the edible oil basket declined on domestic exchanges today.

* SOYBEAN futures on the National Commodity and Derivatives Exchange tumbled in line with weakness in key contracts of the oilseed on the Chicago Board of Trade, traders said.

* Back home, rise in area under the crop and subdued soymeal exports weighed down soybean prices, traders said.

* REFINED SOYOIL futures on the NCDEX and CRUDE PALM OIL contracts on the Multi Commodity Exchange of India fell due to rise in supplies in domestic markets, analysts said.

* Losses in crude palm oil futures on the Bursa Malaysia Derivatives also dragged prices lower on the MCX, dealers said.

* Futures contracts of crude palm oil on the BMD ended lower today due to profit booking, said Vinod T.P., an analyst at Geojit Financial Services. Prices had risen earlier due to firm export demand.

* MUSTARD contracts settled lower on the NCDEX because of subdued demand from crushing plants, traders said.

Following are the highlights of trade in edible oil markets today:

* At 1739 IST

   –September contract of soybean was down 2.0% at 3,712.0 rupees per 100 kg on NCDEX

   –September contract of refined soyoil was down 1.5% at 857.7 rupees per 10 kg on NCDEX

   –August contract of crude palm oil was down 1.9% at 728.0 rupees per 10 kg on MCX

   –September contract of mustard was down 1.8% at 5,022.0 rupees per 100 kg on NCDEX

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