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Published on 24/11/2020 3:38:21 PM | Source: Kedia Advisory

Rmseed trading range for the day is 6119-6211. - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Soyabean

Soyabean trading range for the day is 4368-4568

Soyabean prices dropped as the country has witnessed good planting of soya.

Though late rains affected overall crop numbers, soya crops are higher than the previous year even with some damage to crops due to late rains.

SEA said that farmers are getting good prices for soya and ‘mandi’ prices are ruling 8-10 per cent higher than minimum support price.

At the Indore spot market in top producer MP, soybean dropped -107 Rupees to 4458 Rupees per 100 kgs

 

RMSEED

Rmseed trading range for the day is 6119-6211.

Mustard seed dropped as pressure seen as the government has set a target to achieve a record-high 7.5 mln ha area

Declining mandi arrivals too have supported the market sentiments.

Mustard production has been estimated at 91.16 lakh tonnes which is lower by around 1.51% compared to 92.57 lakh tonnes produced last year.

In Alwar spot market in Rajasthan the prices gained 83.95 Rupees to end at 6183.95 Rupees per 100 kg.

 

SOYAOIL

Ref.Soya oil trading range for the day is 1056-1090.

Ref soyoil dropped on some profit booking after prices seen supported amid reports of steady buying of Soybean from China

Expectations for strong export sales are supporting the market as a tight U.S. soybean stocks outlook

The U.S. soybean crush likely surged to the second highest monthly level on record on strong processing margins.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 1073.8 Rupees per 10 kgs.

 

CPO

CPO trading range for the day is 902.2-941.4.

Crude palm oil dropped tracking weakness in Malaysian priecs as exports slumped during the first half of November.

Malaysia's Meteorology Department forecast heavy rains, storms and strong winds across the country to last until the end of December

Traders now await Nov. 1-20 export data by cargo surveyors due on Friday and expect a monthly decline in shipments.

In spot market, Crude palm oil dropped by -6.9 Rupees to end at 920.9 Rupees.

 

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