27/07/2011 (India Infoline) - Indian Refined Soya Oil rebounded from the losses lead by short covering tracking the recovery in the global market. RSO gained on the grounds of spot demand and recovery in the Palm Oil futures tracking gains in Crude Oil in Asian trading.

The NYMEX September Crude Oil is currently trading up at $ 99.50, up $0.30 per barrel. The October CPO future on BMD is currently trading a tad higher at MYR 3110, up MYR 10 per tonne. The contract moved in the range of MYR 3119-3095 per tonne.

The CBOT November soybeans fell 1.2% to $13.72/bushel while December soy meal dropped 1.7% to $363.10/short ton and December soy oil declined 0.9% to 56.95 cents/pound and is currently trading a tad up at 57.02, up 0.07 cents per pound.

The NCDEX Refined Soya Oil for the August contract ended the last session down by 0.63% at Rs. 665.7 after moving in the range of Rs. 667.8- 663.6 per 10 kg.

In today's early moves, RSO August contract traded in the range of Rs. 669.70- 666.50 and is currently trading higher at Rs. 669.00, up Rs. 3.30 or 0.50% over the last close. The open interest dipped 1.33% to 170500 tonnes, indicating short covering.

The NCDEX August Soybean contract is currently trading higher at Rs. 2465 Per 100 kg, up Rs. 22 or 0.90% over the last close.