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Published on 16/09/2020 1:49:55 PM | Source: Kedia Advisory

Soyabean trading range for the day is 3839-4051 By Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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SOYABEAN

Soyabean trading range for the day is 3839-4051.

Soyabean dropped on profit booking after prices gained as crops in the fields are being destroyed due to continuous rains.

Hundreds of acres of fields have damaged farmers due to kharif season crop failure

China is set to buy a record amount of American soybeans this year as lower prices help the Asian nation boost purchases

At the Indore spot market in top producer MP, soybean gained 4 Rupees to 3947 Rupees per 100 kgs.

 

RMSEED

Rmseed trading range for the day is 5263-5453.

Mustard dropped on profit booking after prices gained due to low crop estimates, and increased prices by Nafed are strong factors

It is estimated that the mustard oil consumption in the domestic market has increased by 12% to 15% this year

As per USDA, World Mustard seed beginning stock is expected to fall by around 28% to 65 Lakh tonnes.

In Alwar spot market in Rajasthan the prices dropped -43 Rupees to end at 5440.9 Rupees per 100 kg

 

SOYOIL

Ref.Soya oil trading range for the day is 909-929.

Refsoyoil prices gained as support seen India sees sharp rise in edible oil exports

India's imports of edible oil in June were up 8% year on year, due to the refilling of depleted stocks.

A SOPA official opined that “The government should impose restrictions on edible oil imports so as to balance the need-based supply.”

At the Indore spot market in Madhya Pradesh, soyoil was steady at 907.05 Rupees per 10 kgs.

 

CPO

CPO trading range for the day is 767.8-792.4.

CPO dropped on profit booking after prices gained supported by raised expectations of higher exports in the month so far.

Exports from Malaysia, the world's second largest producer, in Sept. 1-15 is expected to rise between 10% and 12%.

India's palm oil imports in August dropped 13.9% from a year earlier to 734,351 tonnes, due to a sluggish recovery in demand

In spot market, Crude palm oil gained by 3.8 Rupees to end at 781.8 Rupees.

 

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