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Published on 14/03/2018 12:12:01 PM | Source: Kedia Commodity Ltd

Soyabean trading range for the day is 3685-3851 - Kedia Commodity

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

Trading Ideas

Soyabean

Soyabean trading range for the day is 3685-3851.

Soyabean ended with gains amid lower buying interest from crusher as consumption of meal and oil hit by higher temperature.

India’s soybean imports have hit a record high this year and more buying is expected as domestic supplies tighten following lower production last year.

NCDEX accredited warehouses soyabean stocks dropped by 137 tonnes to 163993 tonnes.

At the Indore spot market in top producer MP, soybean gained 15 Rupees to 3777 Rupees per 100 kgs.

BUY SOYABEAN APR ABV 3755 SL BELOW 3718 TGT 3785-3810. NCDEX (BTST)

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Rmseed

Rmseed trading range for the day is 4080-4206.

Mustard seed prices dropped amid weak demand from crushers and higher arrivals.

Mustard seed arrivals 500,000-600,000 bags compared 350,000-400,000 bags on the previous day.

Daily arrivals of mustard seed increased to 300,000-400,000 bags during this week from 200,000-250,000 bags a week ago.

In Alwar spot market in Rajasthan the prices gained 10 Rupees to end at 3973.5 Rupees per 100 kg.

BUY RMSEED APR ABV 4126 SL BELOW 4096 TGT 4156-4190. NCDEX (BTST)

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Ref.Soya oil

Ref.Soya oil trading range for the day is 772-802.

Ref soyoil gained on short covering after prices dropped tracking global cues amid forecast of higher stockpiles by USDA.

Exports of soymeal during Feb slumped multi-fold to 73,816 tons compared to 207,977 tons same period a year ago on higher prices.

USDA hiked 2017-18 US soybean ending stockpiles estimates to 15.10 million tons for March compared to 15.10 million tons in previous month.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 767.65 Rupees per 10 kgs.

BUY REF SOYA APR 2018 @ 788.00 SL 784.00 TGT 795.00-799.00.NCDEX

Trading Ideas

CPO

CPO trading range for the day is 623.5-648.3.

Crude palm oil ended with gains due to increased buying of inventories at cheapest rates available.

Data released by Malaysian Palm Oil Board showed Closing stockpiles of CPO in February stood at 2.47 million tons.

Exports of palm oil also slumped by 13.33% to 1.31 million tons compared to 1.51 million tons previous month, MPOB data showed.

Crude palm oil prices in spot market dropped by 1.70 rupees and settled at 630.30 rupees.

BUY CPO MAR 2018 @ 636.00 SL 633.00 TGT 639.00-642.00.MCX

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