Nagpur Soybean, Soyoil, Soymeal Open-June 27

Jun 27 2009 1:50PM

Nagpur, June 27 (Reuters) - Steady condition developed in major edible oils

in Vidarbha region of Western Maharashtra following restricted arrival against

sporadic demand. Sufficient ready stocks position compared to current demand

largely held prices around overnight levels. Easy condition on international oil

market also affected sentiment, sources said Saturday.

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VIDARBHA MARKETS

OILS

* Soyabean, Cottonseed, Groundnut loose, Groundnut refined, Sunflower

refined, Linseed, Rapeseed, Castor and Coconut KP oil prices ruled steady

on subdued demand from retailers as well as bulk consumers.

* Traders expect nearly steady trend in major edible oil in Vidarbha.

SOYMEAL

* Prices today showed firm tendency in Vidarbha on good buying support from

South-based traders. About seven dollar per tonne rise in Chicago soymeal

prices also boosted sentiment.

SOYABEAN

* Soyabean prices in the Nagpur Agriculture Produce and Marketing Committee

(APMC) reported higher on good buying support from local crushing

plants amid weak arrival from producing belt because of rains in parts of

Vidabha. Notable hike in soymeal, upward trend in Madhya Pradesh soybean

prices and fresh demand from South-based crudhing plants also helped to

push up soyabean in Vidarbha.

* High moisture content (about 15 per cent) soya was available at Rs 22,200

per tonne in Nagpur.

* About 1,500 bags reported for auction in major soya mandi in

Vidarbha, sources said Saturday.