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Rmseed trading range for the day is 7583-7825 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 9171-10037.
Soyabean prices seen supported as Soyabean output seen shrinking as Madhya Pradesh farmers shift to paddy.
In Rajasthan, Soyabean sowing is done in 1002.94 thousand hectares down by -2.9% compared to last year.
USDA reported that the condition of crops unexpectedly deteriorated last week.
At the Indore spot market in top producer MP, soybean dropped -169 Rupees to 9881 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7583-7825.
Mustard seed gained as production in Canada in 2021 expected to drop by 1.7 million tons to 16.9 million tons.
Mustard arrivals in its major producing states i.e. Rajasthan, Madhya Pradesh, Uttar Pradesh and Gujarat improved.
In 2022-22 marketing year (Mar-Feb), 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 dropped -60 Rupees to end at 7840 Rupees per 100 kg.
Soya Oil
Ref.Soya oil trading range for the day is 1363-1415.
Ref soyoil prices dropped as overall area for oilseed covered to 164.43 lakh ha area more by 5.28 lakh ha.
However downside seen limited prices seen supported by lingering concerns over tight supply.
China's 2020/21 edible oils imports were seen at 10.23 million tonnes, up 900,000 tonnes from last month's forecast.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1405.9 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1095.5-1139.1.
Crude palm oil prices dropped after Malaysia’s data showed that export shipments fell in July.
However downside seen limited helped by lingering concerns over tight production.
The Southern Peninsula Palm Oil Millers' Association estimated July production to climb 2% on the month.
In spot market, Crude palm oil gained by 4.5 Rupees to end at 1151.9 Rupees.
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