Rmseed trading range for the day is 5639-5961 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5969-6305.
Soyabean rallied over 6200 as support seen tracking rise in overseas prices after the USDA plantings forecast for 2021 fell below most trade expectations.
Prices rallied to all time high as soybean demand from millers increased on good export demand of soymeal along with improved domestic demand
Soybean mandi arrivals in its major producing states i.e. Madhya Pradesh, Rajasthan, and Karnataka fell.
At the Indore spot market in top producer MP, soybean gained 178 Rupees to 6210 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 5639-5961.
Mustard prices gained as India's 2020-21 mustard seed production seen at 89.50 lakh tons
Rajasthan, has a mustard crop on about 25 lakh hectares this year.
Canada’s total canola, production in 2021-22 is forecast to fall on reduced processing of canola seed due to lower seed supply.
In Alwar spot market in Rajasthan the prices gained 164.25 Rupees to end at 5764.25 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1267-1303.
Ref Soyoil gained tracking rise in soyabean prices after the U.S. Department of Agriculture's plantings forecast for 2021 fell below most trade expectations.
Support also seen due to tightening global supplies.
Export of oilmeals jumped 205% year-on-year in February to 393,309 tonne, compared with 128,761 tonne
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1290.85 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1070.5-1111.3.
Crude palm oil gains tracking rise in Malaysian palm oil prices helped by data showing strong March palm oil exports.
Malaysia's March palm oil exports rise 26.8 pct – ITS
Malaysia's March palm oil exports rise 27.6% – AmSpec Agri
In spot market, Crude palm oil gained by 20.5 Rupees to end at 1147.3 Rupees.
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