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Published on 29/05/2020 3:07:08 PM | Source: Kedia Advisory

CPO trading range for the day is 651.3-664.3 - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Soyabean

Soyabean trading range for the day is 3805-3917.

Soyabean prices dropped as normal monsoon outlook for this kharif season.

Pressure also seen tracking weakness in overseas prices on concerns that the U.S. government's rhetoric about China's response pandemic will dampen Chinese demand.

Weekly soybean export sales were 1.669 million tonnes, topping forecasts that ranged from 800,000 tonnes to 1.6 million tonnes – USDA.

At the Indore spot market in top producer MP, soybean gained 29 Rupees to 3937 Rupees per 100 kgs.

Rmseed

Rmseed trading range for the day is 4439-4573.

Mustard seed dropped on profit booking after prices gained amid a smaller crop and limited supply.

In recent session prices gained because of lower-than-expected supply of fresh crop in spot markets following restrictions due to coronavirus.

Arrivals of the oilseed in April were at just over 980,000 tn, compared with 1.55 mln tn a year ago.

In Alwar spot market in Rajasthan the prices dropped -25.75 Rupees to end at 4797.5 Rupees per 100 kg.

 

 

Ref.Soya oil

Ref.Soya oil trading range for the day is 775-791.

Ref soyoil dropped on profit booking after prices gained as customs duty hike on edible oil imports perking up prices.

Indian vegoil industry lobby group has urged the country's government to increase import duties on edible oils to encourage farmers

India's oilmeal exports dropped 60% in April from a year earlier.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 799.75 Rupees per 10 kgs.

CPO

CPO trading range for the day is 651.3-664.3.

Crude palm oil dropped on profit booking after prices gained as data showed higher exports, while forecasts of a lower output also aided sentiment.

The Southern Peninsular Palm Oil Millers Association estimated Malaysia production in May 1-25 to fall 6% from the month before.

The Malaysia’s exports for May 1-25 rose between 5.1% and 9.8% from the month before, cargo surveyors said.

Malaysia, slashed the June palm oil export duty to zero, lowering its price against rival Indonesian palm.

 

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