Soyabean trading range for the day is 4783-4847 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4783-4847.
Soyabean prices gained as support seen as India's soymeal exports increased nearly six-fold to 3.36 lakh tonnes in January this year due
SOPA estimates soybean production to be 104.55 lakh tonnes
In the four months from October 2020 to January 2021, about 6 lakh tonnes of soybeans arrived in the domestic months
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 4995 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5258-5426.
Mustard seed prices rose due to better demand as millers remain in the procurement due to the pipeline being empty.
The mustard sowing was excellent this year and production is expected to be better with favorable weather.
The arrival of new crops has started increasing in the mandis.
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6350 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1118-1150.
Refsoyoil gained amid higher demand for edible oils amid winter season and lower imports of Soybean oil in the recent months.
The overall export of oilmeals during April to December 2020 recovered and provisionally reported at 2,461,696 tons
The growth may be limited as US soy oil export sales are not encouraging.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1135.55 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1015.7-1039.3.
Crude palm oil gains as a spike in crude oil prices made the vegetable oil a more attractive feedstock option for biodiesel.
India's palm oil imports jumped 31% in January from a year earlier as lower import taxes prompted refiners to increase purchases of the tropical oil.
India's palm oil imports could fall in February as the government has changed the duty structure in its annual budget presented on Feb. 1.
In spot market, Crude palm oil gained by 12.4 Rupees to end at 1027 Rupees.
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