Soybean Firm, Bullion Slides

Prices were up by Rs 100-150 per tonne in markets and plant delivery condition.

Soyoil prices were slightly down. Soyoil refined was down by Rs 200 per tonne on selling pressure but soyoil solvent was steady. The undertone was weak.

Soymeal and rapeseed extraction prices were steady. Soymeal yellow was $265 per tonne in export. Rapeseed extraction was $126-127 per tonne in export.

Rapeseed extraction was Rs 4,300 f.o.r. Bedibunder and was Rs 4,250-4,275 f.o.r. Bhavnagar. The undertone was steady and business volume was dull.

Silver prices opened on a weak note on the back of a slide in world markets and fresh arrivals of imported metal dragged prices down near close, dealers said.

 

Silver was up by Rs 50 per kg on Tuesday. Demand resistance by the industrial buyers also triggered profit-taking at the improved level, a dealer said.

Gold opened on a firm note but slid towards the close on fears that the customs department may offer confiscated gold ahead of Diwali.

Prices of a gold biscuit (116.50 gramme) opened higher at Rs 60,150 per piece against previous closing of Rs 60,100 but slid later to conclude at Rs 60,000 per piece.

Overall sentiment was subdued at the close and traders were expecting narrow price movement in the coming days.

Meanwhile, India Oil Corp cancelled a tender to buy 25,000 tonnes of fuel oil for Nov 26-30 delivery, an IOC official said yesterday.

The tender which sought 180-centistoke, 3.5 per cent sulphur grade fuel oil for delivery to Bombay was scheduled to close on November 7. No reasons were given for the cancellation. To-date, IOC had purchased a total of 39,000 tonnes of fuel oil for November deliveries.