Rmseed trading range for the day is 5775-6225 - Kedia Advisory
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Soyabean
* Soyabean trading range for the day is 6109-6665.
* Soyabean prices rallied and crossed 6400 level due to higher demand than supply of soymeal.
* Support also seen as the US Department of Agriculture forecasts that soybean sowing may fall below market expectations
* In addition, the report states that US soybean stock is expected to be reduced to only 9-1 per 2 days of supply before harvesting the next crop.
* At the Indore spot market in top producer MP, soybean gained 357 Rupees to 6567 Rupees per 100 kgs.
Mustard seed
*Rmseed trading range for the day is 5775-6225.
*Mustard seed prices ended with gains after the Haryana government starts purchasing at the minimum support price.
*The food standard regulator, FSSAI, has banned blending of any kind of edible oil with mustard oil from June 8.
*Limited stocks lying in the accredited warehouses of NCDEX added to the bullish tone.
*In Alwar spot market in Rajasthan the prices gained 335.75 Rupees to end at 6100 Rupees per 100 kg.
Soya oil
*Ref.Soya oil trading range for the day is 1287-1339.
*Ref Soyoil gained tracking rise in soyabean prices after the U.S. Department of Agriculture's plantings forecast for 2021 fell below most tradeexpectations
*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 1323.05 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1086.7-1138.7.
Crude palm oil prices gained as improving demand added to expectations of sustained tight supply.
MPOC sees Q2 crude palm oil price at 3,846 ringgit/tonne
Palm oil exports from Malaysia, the world's second-largest exporter, rose about 27% in March from the previous month
In spot market, Crude palm oil gained by 17.7 Rupees to end at 1165 Rupees.
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