CPO trading range for the day is 1100.5-1202.5 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5458-5868.
Soyabean prices gained after reports that Chinese soybean imports forecast to hit record high
Support also seen after update in Madhya Pradesh thunderstorm and rain likely for next three to four days and weather will deteriorate again.
The USDA estimates China’s soybean imports for the 2021-22 marketing year is expected to hit a record high of 100 million tonnes.
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5895 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 5602-6020.
Mustard prices gained as India's 2020-21 mustard seed production seen at 89.50 lakh tons
Rajasthan, has a mustard crop on about 25 lakh hectares this year.
Canada’s total canola, production in 2021-22 is forecast to fall on reduced processing of canola seed due to lower seed supply.
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 5800 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1242-1356.
Ref soyoil dropped after cabinet minister Piyush Goyal said in parliament government is watching edible oils and may take step to control high prices.
Export of oilmeals jumped 205% year-on-year in February to 393,309 tonne, compared with 128,761 tonne
The U.S. soybean crush was well below trade expectations in February, sinking to the lowest in 17 months
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1312 Rupees per 10 kgs.
CRUDE PALM OIL
CPO trading range for the day is 1100.5-1202.5.
Crude palm oil prices dropped on profit booking after reports that cabinet minister Piyush Goyal said in parliament government is watching edible oils.
European Union palm oil imports in the 2020/21 season were at 3.97 million tonnes by March 21, from 4.13 million a year ago
Exports of Malaysian palm oil products for March 1-20 rose between 5% and 7% from the same period in February
In spot market, Crude palm oil gained by 10 Rupees to end at 1156 Rupees.
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