CPO trading range for the day is 1140.2-1176 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6699-7261.
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 152 Rupees to 7222 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 6563-6973.
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 670 Rupees to end at 7170.5 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1338-1372.
Ref soyoil prices settled flat after the food ministry has sent a proposal to the Empowered Group of Ministers to review edible oil prices
India’s total vegetable oil imports rose marginally to 9,80,243 tonne in March 2021, compared to 9,55,422 tonne in the year-ago period.
The government is likely to review edible oil prices soon.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1390 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1140.2-1176.
Crude palm oil prices dropped as higher-than-expected inventories and production weighed on the market.
The weakness is mainly due to higher crop output and rising inventories in Malaysia and bearish news from the biodiesel market.
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 15 Rupees to end at 1185 Rupees.
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