Ref.Soya oil trading range for the day is 1238-1288 - Kedia Advisory
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SOYABEAN
Soyabean trading range for the day is 6875-7253.
Soyabean prices dropped as Indian farmers are likely to expand their soybean planting area by more than a tenth in 2021.
USDA confirmed exporters sold 336,000 tonnes of U.S. soybeans for delivery to China during the 2021/2022 marketing year
European Union soybean imports in the 2020/21 season that started last July had reached 14.87 million tonnes by June 20.
At the Indore spot market in top producer MP, soybean dropped -18 Rupees to 7319 Rupees per 100 kgs.
RMSEED
Rmseed trading range for the day is 6746-7008.
Mustard seed dropped as U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
Pressure also seen as Canada rapeseed production is projected at 20.5 million tons, up 1.5 million on greater area.
However upside seen limited pushed lower by flagging global overseas prices amid forecasts for beneficial rains across the Canadian Prairie.
In Alwar spot market in Rajasthan the prices dropped -125 Rupees to end at 7200 Rupees per 100 kg.
SOYOIL
Ref.Soya oil trading range for the day is 1238-1288.
Ref soyoil dropped on profit booking after prices remained supported lifted by strength in rival Chicago soyoil on solid demand from China.
India exported 5.31 lakh tonnes of oilmeals in the first two months of the fiscal 2021-22
A coalition of nine Argentine port worker unions went on a nationwide 24-hour strike to press for vaccinations against the coronavirus.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1300 Rupees per 10 kgs.
CRUDE PALM OIL
CPO trading range for the day is 1008.4-1080.6.
Crude palm oil dropped on profit booking after Indonesia's plan to revise its palm oil export levy.
Indonesia imposed higher export taxes in December
Malaysia offered palm oil at a discount to entice buyers
In spot market, Crude palm oil gained by 2.5 Rupees to end at 1060.5 Rupees.
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