Oil And Oilseeds Market Watch By Nirmal Bang Securities

 Oil And Oilseeds Market Watch By Nirmal Bang Securities           Oilseeds witnessed sharp upside in yesterday's trading session on international cues more than domestic triggers.

? Malaysian crude palm oil futures jumped 4.4 percent on Wednesday, their biggest one-day rise in more than six weeks, as investors covered short positions ahead of a long holiday weekend, traders said. ? U. S. soybean futures dropped around 1% on Wenesday after the threat of frost in the U. S. Midwest next week diminished, raising prospects of a record harvest of soybeans.

Weather in the U. S. Midwest was forecast for mostly warm and dry conditions for the next seven days, which should help ripen crops. The problem still is that these are long-range forecasts from models that have been doing a mediocre job lately. ? Prices of new soybean, having 15 - 18percent moisture content, rose by 25 rupees to 1800
- 1900 rupees per quintal inthe Sangli Agriculture Produce and Marketing Committee (APMC) on Wednesday.

Arrivals were 300 quintals. ? In Latur APMC, the major market in Marathwada region, soybean was traded at 2035- 2059 rupees per quintal. About 500 quintals produce was reported for auction.? We expect oilseed to trade sideways to up for the day as we may see some bargain hunting in today's trading session.