Commodity oil seed is in bearish Mode

Commodity oil seed and edible oil futures moved in the bearish zone during the early hour of Wednesday trading period. Soy oil showed loss of a percent in futures. Mustard seed futures shed around one per cent due to its sluggish demand. As prices have fallen considerably in the past five sessions the traders are expecting short covering of oil later Crude palm oil March contract is traded at MYR 3847.00 [-120.00] per ton in Bursa Malaysia Derivatives [BMD] and the contract of Soy oil February on National Commodity Derivatives Exchange [NCDEX] is traded at Rs 627.20 [-6.40] per 10 kg with volume of 110 lots and the March contract is traded at Rs 647.05 [-8.65] per 10 kg with 26,820 lots traded.  The contract National Board of Trade [NBOT] of March is quoted at Rs 644.20 [-8.40] per 10 kg. Soybean futures showed loss of more than one per cent on NCDEX. February contract traded at Rs 2,386.00 [-39.50] per 100 kg at 10:30 am IST. Volume so far was 430 tons. March contract traded at Rs 2437.00 [-34.00] per 100 kg with volume 20,760 tons. MUSTARD SEED Mustard seed futures came down. April contract traded at Rs 2989.00 [-26.00] per quintal with 12,360 lots traded.