Ref Soyaoil Settled Flat As Prices Ared Gains On Profit

Ref.Soyaoil settled flat as prices pared gains on profit booking after seen supported on improved demand ahead of festive and marriage season. Soybean oilmeal exports slumped 27.35% to 2,098 tons in June compared to 2,098 tons for the corresponding period a year earlier, data from SEA of India showed. Sowing progress in leading soybean producers like Madhya Pradesh, Maharashtra, and Rajasthan improved following good rains during July. India edible oil imports jumped 14% in June on lower prices of edible complex in global market, data release from the Solvent Extractors Association (SEA) of India showed. According to United States Department of Agriculture (USDA) weekly crop progress report, till now weekly crop progress report, around 71% of the crops are in good to excellent conditions which is unchanged from previous week . However it is more than last year which was at 62%.

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