Ref.Soya oil trading range for the day is 1055-1129. - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4514-4742.
Soyabean prices dropped amid worry over slim demand from poultry after the bird flu outbreak.
SEA said that poultry consumes about 5 million tonnes of soya every year
China's soybean imports hit a record high in 2020, customs data showed, after crushers ramped up purchases amid improved margins and healthy demand
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 4709 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5541-5755.
Mustard seed gained on short covering after prices dropped as sowing of mustard, has increased to 72.98 lakh hectare in the current Rabi
The sowing of oilseed crops has increased to 81.80 lakh hectares in the current Rabi whereas till this time last year, it was sown only in 77.79 lakh hectares.
At the national level, the total production area of rabi crops increased to 620.71 lakh hectare.
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6317.9 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1055-1129.
Ref soyoil prices dropped as pressure seen amid the sowing of oilseed crops has increased to 81.80 lakh hectares.
Pressure also seen tracking weakness in soyabean prices as the outbreak of bird flu may reduce the demand for soybean from the poultry industry
Soybean production is estimated at 4.135 billion bushels, down 35 million led by reductions for Minnesota, Iowa, and Kansas.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1110 Rupees per 10 kgs.
CPO
CPO trading range for the day is 903.6-960.2.
Crude palm oil dropped on concerns over declining exports ahead of cargo surveyor data.
Sentiment is bearish after exports during the first two weeks of January plummeted 42% compared with a month earlier
European Union palm oil imports in the 2020/21 season that started last July had reached 3.24 million tonnes by Jan. 17,
In spot market, Crude palm oil dropped by -7.4 Rupees to end at 945 Rupees.
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