Published on 19/04/2021 1:08:53 PM | Source: Kedia Advisory

Soyabean trading range for the day is 6911-7401 - Kedia Advisory

Posted in Commodities Reports| #Commodity Tips #Kedia Advisory

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Soyabean trading range for the day is 6911-7401.

Soyabean prices rallied on concerns over global supplies after domestic processors and importers led by China made huge purchases of grain and oilseeds.

Soyabean production for the current season has been projected at 104.55 lakh tonnes (lt), besides an opening stock of 5.16 lt.

The SOPA said that out the total projected soyabean production, nearly 75 lt had arrived by March-end with 58.5 lt being crushed.

At the Indore spot market in top producer MP, soybean gained 137 Rupees to 7359 Rupees per 100 kgs.


Mustard seed

Rmseed trading range for the day is 6676-7370.

Mustard seed prices gained as crushing as increased due to rise in mustard oil demand.

A total of 1.2 million tonnes of mustard crushing occurred in the country in March 2021 compared to 5.50 lakh tonnes in the month of February.

The stock of mustard with farmers is estimated to be 62.50 lakh tonnes and processors and stockists have a stock of six lakh tonnes of mustard.

In Alwar spot market in Rajasthan the prices gained 154.5 Rupees to end at 7325 Rupees per 100 kg.


Soya oil

Ref.Soya oil trading range for the day is 1351-1385.

Ref soyoil ended with gains as total vegetable oil imports rose marginally to 9,80,243 tonne in March 2021.

Support also seen due to low stocks, a slow recovery in output and higher global use in biofuel production.

Prices rallied in recent session tracking rise in soyabean prices after the USDA's plantings forecast for 2021 fell below most trade expectations.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 1400 Rupees per 10 kgs.


Crude palm oil

CPO trading range for the day is 1158.5-1181.5.

Crude palm oil prices gained tracking rise in Malaysian prices lifted by tight supplies and stronger exports in April.

India's palm oil imports in March jumped 57% year on year as refiners increased purchases of the tropical oil to reduce expensive sunflower oil imports.

Malaysia's end-March palm oil stocks jumped more than expected to a four-month top, boosted by higher imports and production.

In spot market, Crude palm oil gained by 10.9 Rupees to end at 1197.2 Rupees.


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