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Published on 1/04/2020 10:50:32 AM | Source: Kedia Advisory

Soyabean trading range for the day is 3705-3913 - Kedia Advisory

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

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Soyabean

* Soyabean trading range for the day is 3705-3913.

* Soyabean dropped on profit booking after prices gained due to waning supply in domestic markets as mills are shut following the nationwide lockdown.

* Chinese soybean processors fear the spread of coronavirus in major exporters could lead to further supply shortages.

* U.S. January soybean crush fell by 6.02 percent m-o-m to 166.288 million bushels from 176.940 million bushels in January 2020.

* At the Indore spot market in top producer MP, soybean gained 9 Rupees to 3701 Rupees per 100 kgs.

Rmseed

* Rmseed trading range for the day is 4047-4189.

* Mustard seed prices dropped after update output in India, is likely to rise 4 per cent this year as favourable weather boosted yields.

* Production is expected to stand at 7.8 million tonnes in the crop year to June 2020 In Haryana, a record procurement of 6.19 lakh metric tonnes mustard was done during marketing season 2019-20

* In Alwar spot market in Rajasthan the prices dropped -12.9 Rupees to end at 3999.25 Rupees per 100 kg.

Ref.Soya oil

* Ref.Soya oil trading range for the day is 820-840.

* Ref.Soya oil prices dropped amid rising inventories as impact from an unprecedented coronavirus curbed demand.

* Demand for vegetable oil in India is poised to fall for the first time in decades as restaurants have pulled down their shutters to comply with a government order CHART.

* India's vegoil imports in February fell 10 percent to 1.1 million tonnes from a year ago, a trade body said.

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 790.75 Rupees per 10 kgs.

CPO 

*  CPO trading range for the day is 652.4-673.

*  Crude palm oil dropped as demand concerns due to coronarivus-driven global shutdowns outweighed supply disruptions.

* Malaysia's March palm oil exports up 6.9%

*  Malaysia extended a shutdown of some plantations and factories until April 14 and widened the order to six districts.

*  The government's monthly reference price for CPO is set at $653.76 per tonne for April, below a tax threshold of $750 per tonne.

 

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