Ref.Soya oil trading range for the day is 1180-1362 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5065-5585.
Soyabean prices dropped as Soyabean output may rise 14% to 11.9 mn tn this year SOPA said that the total area under soybean for the year 2021 is 119.984 lakh hectares.
China Sept soybean imports fall 30% y/y on slowing demand
At the Indore spot market in top producer MP, soybean gained 57 Rupees to 5458 Rupees per 100 kgs
Ref.Soya oil
Ref.Soya oil trading range for the day is 1180-1362.
Ref soyoil prices ended lower as India cuts base import tax on crude vegetable oil imports to zero %
Oilseeds output is also expected to be down a tad at 23.38 mt as soyabean production was affected.
India’s Sept edible oil stocks at ports and pipelines rose 3.24 percent mom: SEA
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1364.4 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1066.6-1195.
Crude palm oil dropped as India slashed its base import tax on crude palm oil, to zero from 2.5%
Exports of Malaysian palm oil products for Oct. 1-10 fell 7.5% to 500,381 tonnes from the same period in September
Importers usually switch to other edible oils during winter as palm oil solidifies at lower temperature.
In spot market, Crude palm oil dropped by -5 Rupees to end at 1207 Rupees.
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