Rmseed trading range for the day is 5648-5838 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5581-5811.
Soyabean prices gained after reports that Chinese soybean imports forecast to hit record high
Support also seen after update in Madhya Pradesh thunderstorm and rain likely for next three to four days and weather will deteriorate again.
The USDA estimates China’s soybean imports for the 2021-22 marketing year is expected to hit a record high of 100 million tonnes.
The USDA estimates China’s soybean imports for the 2021-22 marketing year is expected to hit a record high of 100 million tonnes.
Mustard seed
Rmseed trading range for the day is 5648-5838.
Mustard prices dropped on profit booking after Madhya Pradesh government had postponed the procurement of crop due to bad weather.
Rajasthan: Mustard to be purchased on MSP from April 1
Mustard will be purchased from farmers at the rate of Rs. 4650 per quintal.
In Alwar spot market in Rajasthan the prices dropped -20 Rupees to end at 5780 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1268-1298.
Ref soyoil prices dropped on reports the government may lower import duty on edible oil to reduce prices
Cabinet minister Piyush Goyal said in parliament government is watching edible oils and may take step to control high prices.
India's vegetable oil imports dropped nearly 25% on year to around 838,607 tn in February,
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1299.25 Rupees per 10 kgs.
CRUDE PALM OIL
CPO trading range for the day is 1105.2-1158.2.
Crude palm oil prices dropped as demand concerns and expectations of higher production further weighed on the market.
Pressure also seen after reports that cabinet minister Piyush Goyal said in parliament government is watching edible oils and may take step to control high prices
March production is likely to increase between 25% and 30%, and the market is also expecting double-digit growth in April
In spot market, Crude palm oil dropped by -10 Rupees to end at 1146 Rupees.
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