Crude palm oil trading range for the day is 1129.7-1176.5 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 8494-10030.
Soyabean prices gained as the delayed monsoon and the planting activity of soybean is adversely affected.
USDA reported that the condition of crops unexpectedly deteriorated last week.
The soybean crop was rated 58% good-to-excellent, down 2 percentage points from a week earlier, and behind market forecasts.
At the Indore spot market in top producer MP, soybean gained 42 Rupees to 9610 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7444-7846.
Mustard seed gained as production in Canada in 2021 expected to drop by 1.7 million tons to 16.9 million tons.
Mustard arrivals in its major producing states i.e. Rajasthan, Madhya Pradesh, Uttar Pradesh and Gujarat improved.
In 2022-22 marketing year (Mar-Feb), total arrivals reported were up by 309% as compared to the arrivals during the corresponding period last year.
In Alwar spot market in Rajasthan the prices gained 51.5 Rupees to end at 7737 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1378-1446.
Ref soyoil gained as prices seen supported by lingering concerns over tight supply.
China raised its forecast on imports of edible oils in 2020/21 marketing year, on increase of palm oil and sunflower oil shipments.
China's 2020/21 edible oils imports were seen at 10.23 million tonnes, up 900,000 tonnes from last month's forecast.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1422.9 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1129.7-1176.5.
Crude palm oil prices gained supported by lingering concerns over lower output.
Malaysian palm oil production for July is expected to be lower on the month on lower oil yields and labour shortages at palm plantations.
Indonesia sets crude palm oil reference price lower in August.
In spot market, Crude palm oil gained by 2.3 Rupees to end at 1187 Rupees.
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