Published on 24/01/2020 10:41:58 AM | Source: Kedia Commodity Ltd

Soya oil trading range for the day is 869-885 - Kedia Commodity

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

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* Soyabean trading range for the day is 4101-4193.

* Soyabean settled flat as support seen due to paucity of quality produce despite the higher mandi arrivals.

* Quality damage and yield loss has been reported for the new season crop due to the unseasonal and extended rainfall.

* The USDA said, that soybean production reached 3.56 billion bushels in the past year, rising by 8 million bushels above average

* At the Indore spot market in top producer MP, soybean dropped -16 Rupees to 4293 Rupees per 100 kgs.


Mustard seed

* Rmseed trading range for the day is 4228-4292.

* Mustard seed gained on short covering after prices dropped on hopes of higher acreage backed by favourable weather conditions.

* Mustard seed sowing stood nearly 3 lakh hectare down, compared to last year in the corresponding period, at 50.71 lakh hectares

* NAFED had procured around 1.08 million tonnes mustard seed harvested in 2018-19 (Jul-Jun) under a price-support scheme.

* In Alwar spot market in Rajasthan the prices dropped -25.75 Rupees to end at 4411.25 Rupees per 100 kg.


Soya oil

* Ref.Soya oil trading range for the day is 869-885.

* Ref soyoil ended with losses on profit booking amid sufficient stocks in domestic market and weak demand in physical.

* India’s December edible oil imports fell 3.41 percent y-o-y to 11.07 lakh tons from 11.46 lakh tons in Dec 2018.

* India’s Soy oil imports rose 97.65 percent in Dec y-o-y to 1.68 lakh tons from 0.85 lakh tons in Dec 2018.

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 900 Rupees per 10 kgs


Crude palm oil

* CPO trading range for the day is 788.2-808.6.

* Crude palm oil dropped as lower-than-expected exports dragged on prices, with traders worried India will place more curbs on shipments from Malaysia.

* Malaysia is talking to Indian government and trade officials in a bid to resolve concerns over New Delhi's new palm oil import restrictions.

* India's import of palm oils declined by 8.64 per cent to 7,41,490 tonnes in December 2019

* Crude palm oil prices in the spot market dropped by 11.80 rupees and settled at 793.10 rupees.


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