Ref.Soya oil trading range for the day is 1398-1496 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7221-7527.
Soyabean gained tracking rise in overseas prices amid strong demand and concerns over global supplies.
USDA recent report showed Soybean production in the world is likely to increase by 6% to 386 million tonnes
Total crop size in India may stand higher by 750,000 tonnes to 11.2 Million tonnes against 10.45 Million tonnes in this season
At the Indore spot market in top producer MP, soybean dropped -64 Rupees to 7719 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 7139-7423.
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 1398-1496.
Ref soyoil ended with losses on rumors of Govt may remove integrated goods and services tax (IGST).
Vegetable oils import, including both edible and non-edible oils, increased 32 per cent during April this year.
According to SEA, 1.05 million tonnes (mt) of vegetable oils were imported in April 2021 compared with 798,715 tonnes in the same period a year ago.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1501.35 Rupees per 10 kgs.
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CPO
CPO trading range for the day is 1174.3-1295.5.
Crude palm oil dropped on rumors of Govt may remove integrated goods and services tax (IGST).
Pressure also seen amid rising inventories and upbeat outlook for U.S crop plantings countered a surge in May exports so far.
Malaysia's palm oil stocks at the end of April rose 7.1% from the previous month to 1.55 million tonnes
In spot market, Crude palm oil gained by 8.2 Rupees to end at 1281 Rupees.
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