CPO trading range for the day is 1121.2-1144.8 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5753-6045.
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 dropped -18 Rupees to 5978 Rupees per 100 kgs.
Mustard Seed
Rmseed trading range for the day is 5615-5775.
Mustard prices dropped on profit booking after Madhya Pradesh government had postponed the procurement of crop due to bad weather.
Rajasthan: Mustard to be purchased on MSP from April 1
Mustard will be purchased from farmers at the rate of Rs. 4650 per quintal.
In Alwar spot market in Rajasthan the prices dropped -20 Rupees to end at 5688.5 Rupees per 100 kg.
Soya Oil
Ref.Soya oil trading range for the day is 1232-1276.
Ref soyoil dropped as 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 1273.95 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1121.2-1144.8.
Crude palm oil dropped tracking weakness in Malaysian prices as weak demand from China weighed on market sentiment ahead of March output and export data.
Pressure also seen amid expectations of higher production further weighed on the market.
China, the world's second-largest palm oil buyer, has allowed the import of red palm oil from Malaysia, the Southeast Asian nation said.
In spot market, Crude palm oil dropped by -8.5 Rupees to end at 1131 Rupees.
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