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Published on 14/08/2020 1:58:46 PM | Source: Kedia Advisory

Rmseed trading range for the day is 4950-5168 By Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Soyabean

Soyabean trading range for the day is 3683-3787.

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

USDA raised its forecast for US 2020-21 soybean production by 290 million bushels to 4.425 billion bushels

The USDA has increased the US soybean yield forecast of 53.3 bushels an acre by 3.5 bushels from last month's report

At the Indore spot market in top producer MP, soybean gained 31 Rupees to 3827 Rupees per 100 kgs.

 

Rmseed

Rmseed trading range for the day is 4950-5168

Mustard seed dropped on profit booking after prices gained as crop estimate is seen lower year on year because of heavy rainfall

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 gained 37.3 Rupees to end at 5250 Rupees per 100 kg.

 

Ref.Soya oil

Ref.Soya oil trading range for the day is 855-877.

Ref soyoil dropped as pressure seen after SEA has estimated the total production of oilseed crops

The total coverage area under Kharif oilseeds is reported at 175.34 lakh hectares, surge by 16.8% from 150.11 lakh ha

China’s July edible vegetable oils imports fell 6.09 percent m-o-m to 9.56 LT compared to 10.18 LT in June 2020.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 859.9 Rupees per 10 kgs.

 

Crude palm oil

CPO trading range for the day is 733.3-755.3.

Crude palm oil prices gained supported by lower Indonesian production.

Output in Indonesia, fell 8.9% to 23.5 million tonnes in the first half of the year due to drier weather

GAPKI said palm oil exports in the first half fell to 15.5 million tonnes, down 11.7% from 17.55 million in the first half of 2019.

In spot market, Crude palm oil gained by 5 Rupees to end at 742.3 Rupees.

 

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