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Published on 3/03/2021 11:34:05 AM | Source: Kedia Advisory

Soyabean trading range for the day is 5082-5212 - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Soyabean

Soyabean trading range for the day is 5082-5212.

Soyabean prices dropped on profit booking pressured by expectations for a large crop in top-exporter Brazil.

USDA forecast domestic supplies of soybeans would remain historically tight into 2022 despite its projection for a record-large harvest this autumn.

Large speculators raised their net long position in soybeans futures in the week to Feb. 23, regulatory data showed.

At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5295 Rupees per 100 kgs.

Rmseed

Rmseed trading range for the day is 5386-5594.

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 5650 Rupees per 100 kg.

Ref.Soya oil

Ref.Soya oil trading range for the day is 1169-1189.

Ref soyoil dropped on profit booking after prices gained amidamid 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 1196.05 Rupees per 10 kgs.

CPO

CPO trading range for the day is 1034.9-1052.1.

Crude palm oil dropped hit by weak February exports data from cargo surveyors and signs of rising output.

Malaysia's Feb palm oil exports fall 8.2% – AmSpec Agri

In spot market, Crude palm oil dropped by -13.4 Rupees to end at 1068.9 Rupees.

 

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