Refined Soya Oil futures extended the loss with the futures dipping more than one percent on weak global cues amid weak fundamentals.
NCDEX Refined Soya Oil futures contract for the September delivery fell further Rs 6.80 or 1.39 percent to the session low of Rs 484.10 per 10 kg. The counter is currently at the end session quoted at Rs 485.50 and the open interest added 1.95 percent to 98,830 tonnes, indicating short selling. Volume traded as of now stood at 79,110 tonnes as against 1,09,150 tonnes.
Soyabean futures also extended the loss with the benchmark September contract is currently quoting lower at Rs 2030, down Rs 28.50 per 100 kg.
E-CBOT December Soya Oil contract is currently quoting lower at 40.19 cents, down 0.39 cents per pound. Malaysian CPO futures closed the last session higher and today market is closed due to National Day holiday.
As per latest crop estimates by soyabean traders, the total crop size of soyabean in the current season is likely to be around 95 lakh tonnes , up 2% from last year. This is mainly on the account of strong rainfall in Maharashtra and Madhya Pradesh.
