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Published on 9/04/2020 4:22:22 PM | Source: Kedia Advisory

Rmseed trading range for the day is 4027-4129 - Kedia Advisory

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

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Soyabean

* Soyabean trading range for the day is 3745-3869.

* Soyabean gained tracking firmness in overseas prices on signs that drought conditions in South America could erode Brazil's bumper harvest.

* China releases 500,000 T of reserve soybeans to COFCO amid supply crunch

* The USDA has projected the country's 2020-21 (Aug-Jul) soybean acrea at 33.8 mln ha, up 10% on yr.

* At the Indore spot market in top producer MP, soybean gained  9 Rupees to 3701 Rupees per 100 kgs.

 

Rmseed

* Rmseed trading range for the day is 4027-4129.

* Mustard seed settled on positive note due to bargain buying along with expectation of fall in output during the current rabi season.

* Haryana Chief Minister said “if the situation is favourable” his government would start purchase of mustard from April 15.

* Production is expected to stand at 7.8 million tonnes in the crop year to June 2020
In Alwar spot market in Rajasthan the prices dropped -12.9 Rupees to end at 3999.25 Rupees per 100 kg.

 

Ref.Soya oil

* Ref.Soya oil trading range for the day is 810-822.

* Ref soyoil gained due to lower edible oil imports.

* India's edible oil imports fell 32% on year to 941,219 tn in March, the Solvent Extractors' Association of India said.

* U.S. soyoil stocks at the end of February were projected to slip to 2.270 billion lbs.

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 790.75 Rupees per 10 kgs.

 

CPO

* CPO trading range for the day is 649.5-671.5.

* Crude palm oil gained on supply disruption worries as the world's second-largest producer is likely to reach a decision on reopening plantations.

* The Malaysian Palm Oil Association had estimated March crude palm oil production to increase 11% to 1.43 million tonnes.

* The Southern Palm Oil Millers Association has estimated a 4% increase in palm oil production.

* The government's monthly reference price for CPO is set at $653.76 per tonne for April, below a tax threshold of $750 per tonne


 

 

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