There was negligible change in the edible oil pattern of trading in the Vidarbha region of Western Maharashtra as prices hovered around last levels in absence of any worthwhile moving factors.
Restricted arrivals against sporadic demand mainly kept major oil prices unaltered. No trader was in mood for any commitment because of fresh hike in American soya digam prices and easy condition on NCDEX.
Soybean futures were mostly 9 to 12 cents lower.
Soymeal was down $3.60/ton, with bean oil 38 points lower in the nearby contract.
USDA reported 110,000 MT of soybeans sold to Egypt under the daily reporting system, spread across both the current and next year shipping slots.
China’s President Xi described President Trump as his friend and suggested that multi-lateral trade is still desirable.
Per the Commitment of Traders report, the large spec funds were still net short -93356 contracts of futures and options on June 4.
That reflected net buying of 36,638 contracts for the week in the CFTC reporting period.