Commodity outlook: Short-term indicators turn bullish for edible oils

Outlook on edible oils, cotton, sugar

EDIBLE OILS:

Markets have been firm due to positive cues from key soybean contracts on the Chicago Board of Trade. Soybean futures on the Chicago bourse rose due to concerns about a smaller crop in Brazil, the world's second-largest producer, following a spell of dry weather.
 

Soyoil futures on NCDEX, too, rose in line with those of crude palm oil. Prices of soyoil and crude palm oil typically move in tandem because they are used as substitutes for each other. Chinese demand for palm oil, which solidifies in cold weather, tends to rise towards mid-year as the weather warms. Leading