Soyabean trading range for the day is 4941-5207 - Kedia Advisory
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Soyabean
* Soyabean trading range for the day is 4941-5207.
* Soyabean dropped on profit booking after prices gained as worries about adverse weather in Brazil stoked concerns about global supplies.
* European Union soybean imports in the 2020/21 season that started last July had reached 9.58 million tonnes by Feb. 28,
* USDA attache sees Argentina 2020/21 soybean crop at 47.5 million T
* At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5256 Rupees per 100 kgs.
RMSeed
* Rmseed trading range for the day is 5267-5485.
* Mustard seed dropped as the mustard sowing was excellent this year and production is expected to be better with favorable weather.
* However downside seen limited due to better demand as millers remain in the procurement due to the pipeline being empty.
*The arrival of new crops has started increasing in the mandis. The daily arrival of mustard in the current weekend was 1.85 lakh kattas.
* In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 5590 Rupees per 100 kg.
Soyaoil
* Ref.Soya oil trading range for the day is 1139-1189.
* Ref soyoil prices gained amid higher demand for edible oils amid winter season and lower imports of Soybean oil
* Very heavy rains remain in the forecast for Brazil's northern soybean belt, where farmers are trying to harvest the soybean crop.
* A strong export pace of soybeans could limit the amount of supplies available to crush into soymeal and soyoil.
* At the Indore spot market in Madhya Pradesh, soyoil was steady at 1184.8 Rupees per 10 kgs.
Crude palm oil
* CPO trading range for the day is 1023.1-1071.1.
* Crude palm oil gained on the back of strength in rival soyoil, although gains were capped by expectations of a rise in February-end inventories.
* End-stocks for both February and March will remain below 1.4 million tonnes.
* Mixed weather has kept 2020/21 Malaysia palm oil production estimates unchanged at 19.1 million tonnes.
* In spot market, Crude palm oil gained by 3.7 Rupees to end at 1065 Rupees.
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