Ref.Soya oil trading range for the day is 1223-1251 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5398-5498.
Soyabean gained on some low level buying after prices dropped as Soyabean production is estimated to rise by 14 per cent to nearly 119 lakh tonnes
India's edible oil producers' body urges members to cut prices to help consumers
CME lowers soybean futures (s) maintenance margins by 14.5% to $2,650 per contract from $3,100 for November 2021
At the Indore spot market in top producer MP, soybean dropped -33 Rupees to 5674 Rupees per 100 kgs.
Soya oil
Ref.Soya oil trading range for the day is 1223-1251.
Ref soyoil dropped on profit booking after 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 1291.8 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1094.2-1135.8.
Crude palm oil dropped as expectations of higher end stocks for October and rumours of poorer exports weighed on sentiment.
However downside seen limited as supply constraints due to the rainy season and strength in rival oils supported the market.
The Southern Peninsula Palm Oil Millers' Association estimated Oct. 1-15 production declined 0.2% from the month before in some parts of Malaysia.
In spot market, Crude palm oil gained by 7.5 Rupees to end at 1147.7 Rupees.
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