NCDEX Soy Oil futures witnessed profit booking on Monday getting global cues amid firm demand in the edible oil complex. In NCDEX soy oil January contract closed up by 1.18% at Rs.685.65 per 10 MT against the previous close.
In the morning session the contract traded at a range of 678-690.50 per 10 MT. Open interest of the contract stood at 177300 lots and volume traded is 162320 lots.
NCDEX SOY OIL GLOBAL UPDATES
USDA’s weekly export figures released on December 15, 2011, which shows that the net weekly export sales for soybeans came in at 468,600 metric tonnes which was slightly below trade expectations.
As per local statistics bureau of China, soybean output in China's Heilongjiang province, the top-producing area, fell 7.5% to 5.42 million metric tons this year.
