Rmseed trading range for the day is 5256-5520 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4794-4942.
Soyabean dropped as pressure seen after WASDE report showed bigger soybean carryout than estimated.
Brazilian farmers had managed to double the area harvested to 4%, from 2% in the previous week this also weighing on soybean prices.
However downside seen limited due to lower production and stock on both domestic and international.
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5080 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5256-5520.
Mustard seed prices dropped as pressure seen after update that year on year, the planted area of mustard has increased by 6.7 percent approximately.
The mustard sowing was excellent this year and production is expected to be better with favorable weather.
The arrival of new crops has started increasing in the mandis.
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6500 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1122-1158.
Ref soyoil prices ended with losses on profit booking tracking weakness in soyabean prices after support seen as extreme cold weather in key U.S. growing areas
Support also seen amid higher demand for edible oils amid winter season and lower imports of Soybean oil in the recent months.
The growth may be limited as US soy oil export sales are not encouraging.At the Indore spot market in Madhya Pradesh, soyoil was steady at 1151.85 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1017.4-1041.8.
Crude palm oil dropped on fears of lower demand and as Malaysia raised its reference price for March export tax.
Pressure also seem India has raised the base import price of crude palm oil by $32 to $1,045 per tonne.
Malaysia maintained its March export tax for crude palm oil at 8% but raised the reference price to 3,977.36 ringgit per tonne
In spot market, Crude palm oil dropped by -4.9 Rupees to end at 1041.6 Rupees.
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