Rmseed trading range for the day is 5532-5690 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4472-4616.
Soyabean prices dropped amid worry over slim demand from poultry after the bird flu outbreak.
SEA said that poultry consumes about 5 million tonnes of soya every year.
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 4594 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5532-5690.
Mustard seed dropped after update India’s 2020-21 mustard crop may touch 100 lakh ton-level due to higher sowing and conducive weather.
Sowing of mustard, has increased to 72.98 lakh hectare in the current Rabi whereas till last year, it was sown only in 68.15 lakh hectare.
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
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6200 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1045-1109.
Ref soyoil gains as recovery seen tracking rise in CPO prices after prices dropped as the sowing of oilseed crops has increased to 81.80 lakh hectares.
Pressure also seen tracking weakness in soyabean prices as the outbreak of bird flu may reduce the demand for soybean from the poultry industry
Soybean production is estimated at 4.135 billion bushels, down 35 million led by reductions for Minnesota, Iowa, and Kansas.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1079.55 Rupees per 10 kgs.
CPO
CPO trading range for the day is 893.3-955.5.
Crude palm oil gains amid supply disruptions due to floods in Malaysia however prices dropped earlier amid dismal Jan. 1-20 exports data.
Contracting demand outweighed fears of supply disruption as flooding in several parts of Malaysia hurt output.
Indonesia's CPO exports to Malaysia rose by 56.63% to 142,654 tons in 2020 from the previous year
In spot market, Crude palm oil dropped by -17.9 Rupees to end at 921.4 Rupees.
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