Ref.Soya oil trading range for the day is 1372-1466 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7089-7489.
Soyabean prices dropped after reports India's soybean planting could rise by over 10% on record prices
Farmers seen switching away from pulses, cotton
Production depends on June-Sept monsoon rains
At the Indore spot market in top producer MP, soybean dropped -26 Rupees to 7693 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 7068-7310.
Mustard seed prices dropped after U.S. rapeseed production is forecast to reach a record 1.8 million tons
Pressure also seen as Canada rapeseed production is projected at 20.5 million tons, up 1.5 million on greater area.
European Union rapeseed production is projected to show a modest gain in 2021/22 on increased planted area and improved 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 1372-1466.
Ref soyoil prices dropped as higher soybean output could limit edible oil imports.
Indian farmers are likely to expand their soybean planting area by more than a tenth in 2021
Global oilseed production is forecast to grow 5 percent in 2021/22, primarily on growth in soybean output in the United States and South America.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1490 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1167.5-1269.1.
Crude palm oil dropped as MPOB reported Malaysian palm oil stock near 15.5 lakh tons by the end of April against market expectation of 15 lakh tons.
India's palm oil imports in 2021 are set to fall for the second consecutive year as pandemic concerns continue to unfold in the country.
India's imports of palm oil imports jumped 82% in April on the year
In spot market, Crude palm oil dropped by -18.7 Rupees to end at 1262.3 Rupees.
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