Tuesday, 3 September 2013

CS SOYABEAN UPDATE – 04 September 2013

Indian oilseeds and soyoil futures jumped on Tuesday on gains in the world market, a weak rupee and an expected rise in edible oil demand in the coming weeks due to festivals. U.S. soybeans rose more than 3 percent as updated weather models forecast a hot, dry weather 
across the Midwest. A weak rupee makes edible oil imports expensive, but raises returns of oilmeal exporters. The rupee fell on Tuesday.

CS SOYABEAN (OCTOBER) OVERVIEW:


TREND CONSOLIDATE


SUP1:3344,
SUP2:3298,
RESIST1:3575,
RESIST2:3698.


TRADING STRATEGY: BUY ON DIPS.

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