Published on 11/01/2018 11:48:35 AM | Source: Kedia Commodity Ltd
Soyabean trading range for the day is 3220-3338 - Kedia Commodity
Soyabean trading range for the day is 3220-3338.
Soyabean prices gained on expectation of lower arrivals in local market and demand hope.
Stockiest and traders are hoarding stocks in anticipation of improved demand in near-term will fetch higher returns.
NCDEX accredited warehouses soyabean stocks gained by 594 tonnes to 216409 tonnes.
At the Indore spot market in top producer MP, soybean gained 28 Rupees to 3326 Rupees per 100 kgs.
BUY SOYABEAN FEB ABV 3250 SL BELOW 3210 TGT 3285-3325. NCDEX (1-2 DAYS)
Rmseed trading range for the day is 3996-4152.
Mustard seed prices ended with gains amid anticipation of good physical uptake by oil mills on expectation of good winter demand.
The area under the mustard crop across the country was at 6.5 mln ha, down 6.2% on year, according to data from the farm ministry.
NCDEX accredited warehouses mustard seed stocks dropped by 766 tonnes to 11413 tonnes.
In Alwar spot market in Rajasthan the prices dropped -12.9 Rupees to end at 3999.25 Rupees per 100 kg.
BUY RMSEED APR 2018 @ 4060 SL 4030 TGT 4100-4140.NCDEX
Ref.Soya oil trading range for the day is 740-750.
Ref soyoil ended with gains due to improved demand from bulk buyers before the festival season starts.
However upside seen limited due to higher stocks in the country and sufficient stocks in the pipeline amid improved domestic crushing and higher imports in November.
India's oilmeal exports dropped by 22% compared to same period a year ago on higher prices amid lower number of export dates.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 741.05 Rupees per 10 kgs.
BUY REF SOYA FEB 2018 @ 742.00 SL 739.00 TGT 745.50-748.00.NCDEX
CPO trading range for the day is 557.9-567.1.
Crude palm oil ended with gains on short covering after prices dropped on increasing stockpiles in local mandis.
Malaysian palm oil inventories surged to a more than two-year high of 2.7 million tonnes at end-December.
Exports of Malaysian palm oil products for January 1-10 fell 1.4 percent to 359,346 tonnes from 364,277 tonnes shipped during December 1-10.
Crude palm oil prices in spot market dropped by 0.20 rupees and settled at 556.50 rupees.
BUY CPO JAN 2018 @ 560.00 SL 557.00 TGT 564.00-568.00.MCX
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