Sharekhan Commodities Buzz dated January 10, 2007

[Sunil]

 

Commodities Buzz [January 10, 2007] Please see the attachment for details Share khan www.sharekhan.com

Summary of Contents   COMMODITIES BUZZ Soybean: No fundamental trigger According to market observers, the farmers have been steadily unloading beans into the market to avail better prices offered by the stockists and solvent units. Further arrivals are expected after the Sankranti festival. Good domestic demand for soy meal and regular off take from the solvent units have kept the sentiments firm. According to the industry sources around 4.7 million tonne of soybean were sold during October-December, out of the total estimated production of 7.2 million tonne for the oil year 2006-07. This leaves 1.8-1.9 million tonne of soy stocks with the farmers to be sold in the open markets in the remaining 10 months of 2006-07 (November-October), after taking into account the crop retained for re-sowing and last year's carry over stocks.

Regards, The Sharekhan Research Team myac...@sharekhan.com

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