Soyabean trading range for the day is 4973-5195. - Kedia Advisory
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Soyabean
* Soyabean trading range for the day is 4973-5195.
* Soyabean gains buoyed by expectations of a further delay in Brazilian shipments as heavy rains were forecast for crop-growing areas.
* USDA projected that domestic supplies of the oilseed would remain tight into 2022, stoking concerns of global supply.
* Brazil's February soybean export forecast to reach up to 6 mln T – Anec
* At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5267 Rupees per 100 kgs.
Rmseed
* Rmseed trading range for the day is 5415-5763.
* Mustard seed gained due to better demand as millers remain in the procurement due to the pipeline being empty.
* However upside seen limited as the mustard sowing was excellent this year and production is expected to be better with favorable weather.
* 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 6400 Rupees per 100 kg.
Ref.Soya oil
* Ref.Soya oil trading range for the day is 1173-1227.
* Ref soyoil prices gained on support from harvest delays in South America
* Very heavy rains remain in the forecast for Brazil's northern soybean belt, where farmers are trying to harvest the soybean crop.
* Support also seen amid higher demand for edible oils amid winter season and lower imports of
* Soybean oil in the recent months. At the Indore spot market in Madhya Pradesh, soyoil was steady at 1214.75 Rupees per 10 kgs
CPO
* CPO trading range for the day is 1065-1083.
* Crude palm oil gains as support seen after palm oil inventories in Malaysia, will remain low throughout the year
* Malaysian Palm Oil Council says China's palm oil demand will see positive growth in Q1
* Exports during Feb. 1-20 rose between 10% and 28% from the same period in January
* In spot market, Crude palm oil gained by 14.9 Rupees to end at 1082.8 Rupees.
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