CPO trading range for the day is 1110.6-1151 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6641-6901.
Soyabean prices dropped as India's soybean planting could rise by over 10% on record prices
Indian farmers planted soybean on 11.83 million hectares in 2020 and produced 10.4 million tonnes, according to SOPA.
The total production of oilseeds in the country during 2020-21 is estimated to be a record 36.57 million tonnes which is 3.35 million tonnes
At the Indore spot market in top producer MP, soybean dropped -133 Rupees to 7314 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 6850-7212.
Mustard seed dropped as U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
Pressure also seen as Canada rapeseed production is projected at 20.5 million tons, up 1.5 million on greater area.
COOIT was against any reduction in import duties on edible oils but wanted the Centre to remove the GST of 5 per cent on mustard seed
In Alwar spot market in Rajasthan the prices gained 105 Rupees to end at 7325 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1357-1397.
Ref soyoil prices dropped on concerns about tight global supplies of edible oils.
However downside seen limited supported on concerns about tight global supplies of edible oils.
Indian farmers are likely to expand their soybean planting area by more than a tenth in 2021
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1416.8 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1110.6-1151.
Crude palm oil gained due to global edible oil supply woes after prices seen pressure as surveys pegged Malaysia’s May stockpile to climb to an eightmonth peak
May stocks seen 6.3% higher at 1.64 mln T
Output seen up 3.4% at 1.58 mln T
In spot market, Crude palm oil dropped by -11.4 Rupees to end at 1156 Rupees.
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