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Ref.Soya oil trading range for the day is 1241-1293 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5376-5486.
Soyabean prices remained supported amid persistent worries about a rain-delayed harvest in top producer Brazil.
Markets were already basking in the glow of continued robust demand from China and tightening US soybeans supplies.
Brazil's Abiove sees 2021 soybean exports at record 84 million tns
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5701 Rupees per 100 kgs.
RmSeed
Rmseed trading range for the day is 5660-5858.
Mustard prices dropped due to projections of a record harvest, with the harvest season just about starting.
However downside seen limited as fewer carry-forward stocks this year resulted in higher prices.
Currently, market prices are ruling higher by over a tenth above the MSP of ₹ 4,650 per quintal across various markets in Rajasthan
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 5600 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1241-1293.
Ref soyoil prices dropped amid profit booking as overall vegoil imports declined by 3.7% during November-February 2020-21.
The import of edible oils came down by 26.89 per cent in February 2021 and 3.85 per cent in the first five months of the oil year 2020-21.
The country imported 796,568 tonnes of edible oil in February 2021 against 1,089,661 tonnes
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1283.1 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1103.6-1141.2.
Crude palm oil prices dropped amid anticipation of improving production.
The Southern Peninsula Palm Oil Millers' association had forecast production during March 1-15 to fall 62% from the previous month.
Indonesia's Jan palm oil exports up nearly 20% y/y – palm oil association
In spot market, Crude palm oil dropped by -5 Rupees to end at 1158 Rupees.
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