Soya Oil trading range for the day is 1365-1429 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 8000-8912.
Soyabean prices gained amid tightening inventory situation in the country and amid slower pace of sowing.
Government reports indicate that the weakening of rains has impacted the sowing of crops in Maharashtra, Gujarat, Rajasthan, Haryana and Punjab.
Area sown under soybean was lagging behind last year’s area by nearly 11.05 per cent.
At the Indore spot market in top producer MP, soybean gained 142 Rupees to 8700 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7432-7710.
Mustard seed prices gained tracking firmness in overseas prices as drought continued across the Canadian Prairies, threatening crop yields.
The arrival of mustard in the mandis has decreased at all places in the country.
U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
In Alwar spot market in Rajasthan the prices dropped -51.5 Rupees to end at 7634 Rupees per 100 kg.
Soya Oil
Ref.Soya oil trading range for the day is 1365-1429.
Ref soyoil prices gained supported by lingering concerns over tight supply.
China raised its forecast on imports of edible oils in 2020/21 marketing year, on increase of palm oil and sunflower oil shipments.
China's 2020/21 edible oils imports were seen at 10.23 million tonnes, up 900,000 tonnes from last month's forecast.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1397.7 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1109.3-1135.7.
Crude palm oil gained underpinned by concerns over declining production as a labour shortage hampers output.
Export shipments from Malaysia during July 1-20 fell 7.9% to 863,586 tonnes compared with the same period in June.
The Southern Peninsula Palm Oil Millers' Association has estimated production during July 1-15 fell by 3.5% from the corresponding period in June.
In spot market, Crude palm oil gained by 13 Rupees to end at 1135 Rupees.
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