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Published on 12/08/2020 12:14:23 PM | Source: Kedia Advisory

Crude palm oil trading range for the day is 714.6-751 By Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Soyabean

Soyabean trading range for the day is 3615-3851.

Soyabean dropped as prices seen pressure as India's soybean production is set to jump by at least 15% in 2020

China's monthly imports of soybeans leapt to a record high in June, jumping 71% from a year earlier, customs data showed

SOPA sees good prospects for the oilseed on anticipated good rains this year.

At the Indore spot market in top producer MP, soybean dropped -10 Rupees to 3824 Rupees per 100 kgs.

 

Rmseed

Rmseed trading range for the day is 4902-5182.

Mustard seed dropped on profit booking after prices rallied in recent session after updates that crop estimate is seen lower year on year

There are estimates of rise in sowing area this year due to better price remuneration by the farmers in 2019-2020.

Total procurement in the leading producing states of Rajasthan and Haryana have reached roughly 12 Lakh tonnes this year.

In Alwar spot market in Rajasthan the prices dropped -25.35 Rupees to end at 5224.65 Rupees per 100 kg.

 

Ref.Soya oil

Ref.Soya oil trading range for the day is 844-878.

Ref soyoil dropped on profit booking after prices gained as support seen India sees sharp rise in edible oil exports

India's imports of edible oil in June were up 8% year on year, due to the refilling of depleted stocks.

A SOPA official opined that “The government should impose restrictions on edible oil imports so as to balance the need-based supply.”

At the Indore spot market in Madhya Pradesh, soyoil was steady at 860 Rupees per 10 kgs.

 

Crude palm oil

CPO trading range for the day is 714.6-751.

Crude palm oil dropped on demand concerns as cargo surveyor data showed a decline in early August exports.

Data from cargo surveyors showed Malaysia's palm oil exports for Aug. 1-10 dropped between 4.8% and 6.2% from a month earlier.

Top buyer India's oils and fats end-stock for July has already recovered.

In spot market, Crude palm oil remains unchanged at by 0 Rupees to end at 737.3 Rupees.

 

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