Ref.Soya oil trading range for the day is 1364-1456 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6932-7242.
Soyabean settled flat on profit booking paring earlier gains seen after update late arrival of monsoon rains may delay sowing of crop
Farmers generally wait for the monsoon to start before they begin planting soybeans.
According to the third advance estimate, the total production of oilseeds in the country during 2020-21 is estimated to be a record 36.57 million tonnes
At the Indore spot market in top producer MP, soybean gained 179 Rupees to 7447 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 7081-7245.
Mustard seed gains as support seen after COOIT was against any reduction in import duties on edible oils
The decision to ban the adulteration of mustard oil from June 8, the demand for soybean degum and palmolein has weakened.
U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
In Alwar spot market in Rajasthan the prices gained 105 Rupees to end at 7325 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1364-1456.
Ref soyoil prices dropped on concerns about tight global supplies of edible oils.
However downside seen limited supported on concerns about tight global supplies of edible oils.
Indian farmers are likely to expand their soybean planting area by more than a tenth in 2021
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1430 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1090.6-1188.6.
Crude palm oil dropped after reports that India is considering reducing import taxes on edible oils
Further a fresh coronavirus lockdown in Malaysia and a slow rise in May exports hurt demand outlook.
However downside limited amid firmness in overseas prices on supply concerns arising from adverse weather in the United States.
In spot market, Crude palm oil gained by 9.9 Rupees to end at 1173.9 Rupees.
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