Rmseed trading range for the day is 5472-5696 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4562-4696.
Soyabean gained supported by signs of strong demand from both the domestic processing sector as well as the export market.
Support also seen after weekly soybean export sales totaled 1.234 million tonnes, topping market forecasts.
China's soybean imports hit a record high in 2020, customs data showed, after crushers ramped up purchases amid improved margins and healthy demand
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 4697 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5472-5696.
Mustard seed prices gained as support seen amid crop damage in north due to cold waves.
The latest Government data shows that the planted area in Mustard has so far reached 73.25 Lakh hectares
India’s 2020-21 mustard crop may touch 100 lakh ton-level due to higher sowing and conducive weather. Sowing
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6213.65 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1086-1130.
Ref soyoil prices gained amid supply concerns due to poor weather conditions in Latin America and strong demand from China.
The sowing of oilseed crops has increased to 81.80 lakh hectares in the current Rabi whereas till this time last year, it was sown only in 77.79 lakh hectares.
NOPA members, which handle about 95% of all soybeans processed in US, were estimated to have crushed a near-record 185.175 mln bushels
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1105 Rupees per 10 kgs.
CPO
CPO trading range for the day is 951.8-985.8.
Crude palm oil ended with gains after Indonesia increases palm oil export tax, levy for Feb.
Indonesia set a higher reference price for crude palm oil for February at $1,026.78 per tonne.
Malaysia's commodities ministry forecast crude palm oil production at 19.7 million tonnes in 2021, rising from 19.14 million tonnes last year.
In spot market, Crude palm oil gained by 13.8 Rupees to end at 955.3 Rupees.
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