Rmseed trading range for the day is 8371-8829 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6182-6378.
Soyabean prices dropped tracking weakness in overseas prices as farmers begin harvesting what is expected to be a near-record crop
The U.S. Department of Agriculture's monthly supply and demand report increased U.S. soybean production
In Marathwada, there were concerns about mosaic virus, as well as infestation of pink and American bollworm.
At the Indore spot market in top producer MP, soybean gained 132 Rupees to 8619 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 8371-8829.
Mustard seed dropped on profit booking after prices seen supported as Government has increased the MSP by 400 per quintal for RMS 2022-23
Support also seen amid regular demand from the stockists and lowering all India arrivals.
The IGC lowered their forecast for the world rapeseed production to 70.9 million tons (-2.2 compared to July and 72.1 compared to 2020/21)
In Alwar spot market in Rajasthan the prices gained 141.6 Rupees to end at 8870 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1302-1330.
Ref soyoil dropped as India cuts import taxes on vegetable oils to calm prices
The reduction in taxes could bring down prices of the edible oils in India and boost consumption, effectively increasing overseas buying by the south Asian country.
India's vegetable oil imports are likely to contract for the second straight year, the Solvent Extractors' Association of India (SEA) said.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1356.55 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1099-1122.6.
Crude palm oil dropped dragged down by prospects of growing supply from the two world’s largest producers Indonesia and Malaysia.
Exports during Sept. 1-15 soared 54% to 832,555 tonnes from the same week in August, cargo surveyor Amspec Agri said.
Indonesia's production during the second half of 2021 may miss expectations because of the lingering impact of drought in 2019 and insufficient fertiliser use.
In spot market, Crude palm oil gained by 0.6 Rupees to end at 1136 Rupees
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