Ref.Soya oil trading range for the day is 1376-1410 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6944-7202.
Soyabean prices gained tracking rise in overseas prices as global supply tightens, and demand persists.
Exporters sold 120,000 tonnes of new crop soybeans for delivery to unknown destinations, the USDA said.
The domestic 2020-21 soyabean crop would at best be 100 lakh tonnes, far less than the government estimate of 137 lt.
At the Indore spot market in top producer MP, soybean gained 54 Rupees to 7263 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 6834-7160.
Mustard seed prices dropped after reports 100% Rapeseed Mustard has been harvested
Pressure also seen after SOPA, MOPA and SEA have written a letter to SEBI to curb futures
As per USDA, World Mustard seed production is estimated to remain steady at 689 lakh tonnes in 2020-21.
In Alwar spot market in Rajasthan the prices dropped -206 Rupees to end at 7325 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1376-1410.
Ref soyoil settled down on profit booking after reports that summer oilseed crop sowing progress is very good as on date.
There is no impact of COVID-19 pandemic situation on progress of area coverage under summer crops in the country.
Oilseeds 10.45 lakh ha area against 9.03 lakh ha area of last year, thus increase in area coverage by 1.41 lakh ha.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1437.05 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1160.1-1186.5.
Crude palm oil dropped as Indonesia's March crude palm oil production was up 13.5% compared to the year ago
Crude palm oil output in March stood at 3.71 million tonnes compared with the 3.27 million tonnes produced in the same month last year.
Indonesia estimates that it will export 5.9% more crude and refined palm oil in 2022 than this year, official data showed.
In spot market, Crude palm oil dropped by -1.3 Rupees to end at 1220.3 Rupees.
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