Rmseed trading range for the day is 5512-5760 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5092-5236.
Soyabean gained as U.S. report is expected to reduce forecast for world supplies amid adverse South American weather.
USDA will lower its estimates for 2020/21 ending stocks for soybeans
Harvest-time rains in Brazil have not only hit supplies but also the quality of beans.
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5404 Rupees per 100 kgs.
RmSeed
Rmseed trading range for the day is 5512-5760.
Mustard seed prices gained as support seen after update that the government has banned mustard oil blended with other oils from 08-June.
Support also seen due to better demand as millers remain in the procurement due to the pipeline being empty.
The arrival of new crops has started increasing in the mandis. The daily arrival of mustard in the current weekend was 1.85 lakh kattas.
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 5688.5 Rupees per 100 kg.
Soyaoil
Ref.Soya oil trading range for the day is 1206-1284.
Refsoyoil gained as support seen as the availability of sunflower in the domestic market is low due to higher prices.
According to USDA, soy production in Argentina may decline by 2.5 million tonnes from January estimate to 4.75 million tonnes
Heavy rains have been seen in Brazil since last week, this rain can cause delayed harvesting
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1243.25 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1073.2-1127.2.
Crude palm oil prices gained to record high as a surge in crude prices boosted demand for biofuels including soya oil and sunflower.
However, upside seen limited from a forecast of higher February-end stockpiles from Malaysia.
Swiss voters narrowly backed a free trade agreement with Indonesia, on which Switzerland will reduce tariffs by about 20%-40% for up to 12,500 tonnes per year of palm
In spot market, Crude palm oil dropped by -5.9 Rupees to end at 1100.3 Rupees.
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