Published on 17/06/2019 9:47:58 AM | Source: Kedia Commodity Ltd

Soyabean trading range for the day is 3666-3744 - Kedia Commodities

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

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* Soyabean trading range for the day is 3666-3744.

* Soyabean gained amid fear of delay in the arrival of monsoon rains in producing regions.

* However, higher supplies in domestic market because of increased 2018-19 output capped the upside.

* Reports that monsoon is likely to be delayed further due to cyclone VAYU.

* At the Indore spot market in top producer MP, soybean gained 17 Rupees to 3819 Rupees per 100 kgs.



* Rmseed trading range for the day is 3913-3963.

* Mustard seed prices remained in range on hopes of meal demand from China as it refused shipment from Canada.

* Lower than expected 2018-19 output and increased buying by NAFED gave a boost to prices.

*  NAFED bought 9.93 lakh tons of mustard seeds as against 8.71 lakh tons during 2018-19 fiscal year.

In Alwar spot market in Rajasthan the prices dropped -12.9 Rupees to end at 4076.5 Rupees per 100 kg.


Soya Oil

* Ref.Soya oil trading range for the day is 735-745.

* Ref.Soya oil gained due to tight stocks and hopes of fresh demand for festival and marriage seasons.

* However, upside seen limited due to higher stocks at port and expectation of higher imports.

* The export of oilmeal, dropped 78% to 58,549 tonne during the last month

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 761.1 Rupees per 10 kgs.



* CPO trading range for the day is 495.5-513.3.

* Crude palm oil prices gained tracking firmness in spot demand and overseas prices after upbeat official industry data from MPOB.

* Malaysian palm oil stockpiles fell to a 10-month low at end-May, according to official data, extending monthly falls since March.

* Stockpiles at end-May in Malaysia, fell 10.3% to 2.45 million tonnes from the previous month.

* Crude palm oil prices in spot market gained by 0.90 rupees and settled at 503.20 rupees.


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