Rmseed trading range for the day is 7727-8005 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 9570-10594.
Soyabean remained supported amid concerns about global supplies on forecasts for unfavourable weather across a key U.S. producing region.
Support also seen amid crop damage due to heavy rain have forced many soyabean farmers in Madhya Pradesh to shift to paddy.
The market is eyeing the USDA monthly supply and demand report next week for revisions to U.S. corn and soybean yields and global demand.
At the Indore spot market in top producer MP, soybean gained 191 Rupees to 10253 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7727-8005.
Mustard seed dropped on profit booking after prices seen supported 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 -77.25 Rupees to end at 7865.75 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1388-1420.
Ref soyoil gained as prices seen supported by lingering concerns over tight supply.
However upside seen limited as overall area for oilseed covered to 164.43 lakh ha area more by 5.28 lakh ha.
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 1410.75 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1120-1150.8
Crude palm oil gained lifted by forecasts showing tight supply, lower production in July and hopes of a rise in August exports.
Malaysia's July stocks seen up 1.6% at 1.64 mln T - survey.
Output seen down 4% at 1.54 mln T – survey.
In spot market, Crude palm oil gained by 8.8 Rupees to end at 1177.9 Rupees.
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