Rmseed trading range for the day is 7479-7885 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7192-8388.
Soyabean prices dropped as China lowers estimates of 2020/21 soybean imports on falling crush margins.
China's 2020/21 soybean imports were seen at 98.6 million tonnes, down 1.84 million tonnes from last month's estimates.
The USDA confirmed private sales of 132,000 tonnes of new-crop U.S. soybeans to China and another 130,000 tonnes to unknown destinations.
At the Indore spot market in top producer MP, soybean gained 228 Rupees to 8850 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7479-7885.
Mustard seed dropped as arrivals in its major producing states i.e. Rajasthan, Madhya Pradesh, Uttar Pradesh and Gujarat improved.
However downside seen limited as production in Canada in 2021 expected to drop by 1.7 million tons to 16.9 million tons.
In 2022-22 marketing year, total arrivals reported were up by 309% as compared to the arrivals during the corresponding period last year.
In Alwar spot market in Rajasthan the prices gained 103 Rupees to end at 7737 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1357-1393.
Ref soy oil pared gains as total oilseeds production during 2020-21 is estimated at record 36.10 million tonnes higher by 2.88 million tonnes.
Further, the production of oilseeds during 2020-21 is higher by 5.56 million tonnes than the average oilseeds production of 30.55 million tonnes.
However downside seen limited supported by lingering concerns over tight supply.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1393.4 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1138.8-1194.8.
Crude palm oil dropped on profit booking after prices seen supported amid lower stockpiles and tightening production.
Malaysia's end-July palm oil end-stocks fell 7.3% from June to 1.5 million tonnes
Exports of Malaysian palm oil products for Aug. 1-10 fell between 10% and 12.8% from the same period in July
In spot market, Crude palm oil gained by 16.9 Rupees to end at 1189 Rupees.
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