Ref.Soya oil trading range for the day is 1222-1242 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5913-6227.
Soyabean dropped on profit booking and as soyabean production in India has grown 8% month-on-month to 11.9 million tonnes.
However downside seen limited amid soaring demand for soymeal, amid transportation bottlenecks and labour shortages.
USDA confirmed private sales of 256,930 tonnes of U.S. soybeans to unknown destinations.
At the Indore spot market in top producer MP, soybean gained 119 Rupees to 5994 Rupees per 100 kgs.
Soya oil
Ref.Soya oil trading range for the day is 1222-1242.
Ref soyoil prices seen supported as the vegetable oil market faces a significant squeeze due to lower output.
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 1240 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1134-1160.6.
Crude palm oil gains underpinned by estimates of weaker production and higher exports during the first half of November.
Concerns over weaker output is weighing on the market as plantations enter the lower production season amid rainy weather.
The Southern Peninsula Palm Oil Millers' Association (SPPOMA) estimated production during Nov. 1-15 fell 6.3% from the month before.
In spot market, Crude palm oil gained by 5.7 Rupees to end at 1119.8 Rupees.
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