Due to the weekend, some acceleration in trades activities imparted a measure of bullishness to refined soy oil across domestic markets. Firm CBOT on strong USDA export data and escalation in CIF prices contributed to firmness. Some markets witnessed improved demand for upcoming marriage season while Delhi market remained range bound on steady supply/demand. CIF prices quoted at $ 694/tonne for February shipment on Saturday. The NCDEX Soy oil February contract finished Rs 3 higher at Rs. 467/10kg compared to yesterday’s closing.

Holiday in Maharashtra mandies on Saturday resulted in lack of arrivals. In MP, arrivals improved by 30-40 thousand bags with crushers aggressively buying seeds. in Rajasthan, bean arrivals declined by 6-7 thousand bags supporting bullishness in prices. Mixed overnight CBOT and bullish USDA exports data reflected in the physical markets. After recent surge in FAS/FOB meal trades, market was quiet. The NCDEX February contract closed at Rs 1434.65/qtl, Rs 0.85 lower than the previous closing level.

Today, NAFED kept seed rates unchanged across spot markets and in Kota it stood at Rs 1690 per qtl, whereas rates in Jaipur it remained at Rs 1735 per qtl [For seeds stock during 2005-06]. Arrivals reportedly improved in Rajasthan region by 2-3,000 bags inducing bearishness. Following NAFED’s recent announcement to further unload around 3 lakh tonnes of mustard seeds discouraged stockists to hold back stocks, adding to bearish sentiments. The NCDEX February contract opened at Rs 372.5 per 20 Kg against previous closing of Rs 371.15/20Kg. Choppy trading and sporadic buying featured the day’s trading, with February contract closing at Rs 372.9/20 Kg.