Rmseed trading range for the day is 5566-5834 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5641-5951.
Soyabean prices gained after reports that Chinese soybean imports forecast to hit record high
Support also seen after update in Madhya Pradesh thunderstorm and rain likely for next three to four days and weather will deteriorate again.
The USDA estimates China’s soybean imports for the 2021-22 marketing year is expected to hit a record high of 100 million tonnes.
At the Indore spot market in top producer MP, soybean dropped -18 Rupees to 5904 Rupees per 100 kgs.
Mustard Seed
Rmseed trading range for the day is 5566-5834.
Mustard prices dropped on profit booking after Madhya Pradesh government had postponed the procurement of crop due to bad weather.
Rajasthan: Mustard to be purchased on MSP from April 1
Mustard will be purchased from farmers at the rate of Rs. 4650 per quintal.
In Alwar spot market in Rajasthan the prices dropped -20 Rupees to end at 5728.5 Rupees per 100 kg.
Soya Oil
Ref.Soya oil trading range for the day is 1249-1277.
Ref soyoil prices gained tracking rise in Soyabean prices and as Export of oilmeals in April-February rises 49%
Export of oilmeals jumped 205% year-on-year in February to 393,309 tonne, compared with 128,761 tonne
Support also seen due to tightening global supplies.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1280.65 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1131.5-1148.1.
Crude palm oil gains due to tight supplies and expectations of a slower decline in global prices.
Malaysia's March 1 – 25 palm oil exports rise 10.4% – Amspec Malaysia
Indonesia's palm oil inventories at the end of 2021 are expected to fall by nearly half to 2.67 million tonnes from 4.87 million tonnes last year
In spot market, Crude palm oil dropped by -6.1 Rupees to end at 1139.5 Rupees.
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