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Published on 20/09/2019 10:36:58 AM | Source: Kedia Commodity Ltd

Soyabean trading range for the day is 3679-3825 - Kedia Commodity

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

Soyabean

* Soyabean trading range for the day is 3679-3825.

* Soyabean prices ended with gains as support seen after total 10 to 15% soybeans are damaged in MP state.

* While, growing soybean crops at developing stage are better in other states of India.

* U.S may get soybean yield at 47.9 bushels per acres in 2019/20 which is lower than the projection of 48.5 bushels per acres in August

* At the Indore spot market in top producer MP, soybean gained 33 Rupees to 3957 Rupees per 100 kgs.

 

Rmseed

* Rmseed trading range for the day is 3911-3971.

* Mustard seed dropped due to expectation of rise in mustard seed acreage in upcoming sowing season.

* Mills in India crushed 575,000 tn of mustard seed in August, up by 15% higher compared to previous month

* USDA has scaled down its estimate for global oilseed production in 2019-20 to 586.0 mln tn from 597.7 mln tn

* In Alwar spot market in Rajasthan the prices dropped -6.45 Rupees to end at 4121.55 Rupees per 100 kg.

 

Ref.Soya oil

* Ref.Soya oil trading range for the day is 762-772.

* Ref soyoil settled flat on profit booking tracking weakness in soyabean prices after prices gained in recent sessions on crop damage update.

* Import of vegetable oils during August 2019 Up by 5% to 1,586,514 tons compared to 1,512,597 tons in August 2018

* U.S 2019/20 ending stocks of soy oil estimate has been lowered to 1,485 million lbs from 1,500 million lbs in its earlier estimate.

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 760 Rupees per 10 kgs.

 

CPO

* CPO trading range for the day is 556.9-563.1.

* Crude palm oil ended with losses on profit booking after prices gained due to tariff duty hike and good physical demand.

* Palm oil exports hit 2.92 million tons in July, 15.87 percent higher than the previous month as China jacked up demand during the month

* India's palm oil imports in August rose 5% from a month earlier to an 11-month peak as lower prices prompted refiners to lift purchases for peak festive season

* Crude palm oil prices in the spot market dropped by 3.30 rupees and settled at 558.80 rupees

 

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