Oil And Oilseeds Market Watch By Nirmal Bang Securities

 Oil And Oilseeds Market Watch By Nirmal Bang Securities         Soybean complex showed some weakness on Saturday's trading session mainly due to good arrivals in Indore market.

Mustard prices ended on a positive note last week backed by festive demand especially from West Bengal and Bihar on account of Durga Puja. Trader are reluctant to take long position at current market price, as it is assumed that prices of Mustard seeds are over prices at curren levels.

China's Agricultral Ministry said bumper grain harvest expected despite of drought and early frost in some major growing areas. Industry officials have recently forecast drops in corn, soy production amid weather woes.

U. S. soybean futures plunged 2.9 percent on Monday on pressure from expectations for a bumper harvest in the coming weeks, forecasts for mild weather through early October reinforced expectations that the crops, which are still vulnerable to damage from a freeze in many areas, would make it to maturity before cold temperatures arrive in key growing areas.

China's imports of Soybean and Rape Seeds for the month of August were 3131422 tonnes and 210271 tonnes respectively.

Oulook for Soybean and Soy Refined Oil is Sideways to upand we recomed to buy at dips in soy complex. Rape mustard seed is expected to trade sideways to up backed by miller's demand due to ongoing and forthcoming festive season.