Soya oil trading range for the day is 1253-1307 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7344-7632.
Soyabean prices dropped as area under soybean planting is likely to increase by 5-7% across the country this kharif season
There has been shortage of certified seeds and they have been selling at high prices, but farmers have prepared their own seeds.
In Maharashtra, the government has claimed that there was no shortage of soybean seeds and sowing was in full swing.
At the Indore spot market in top producer MP, soybean gained 9 Rupees to 7502 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 6598-7168.
Mustard seed prices dropped tracking weakness in soyabean prices and overseas prices as forecasts showed favorable rains moving into the Midwest
U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
Canada rapeseed production is projected at 20.5 million tons, up 1.5 million on greater area.
In Alwar spot market in Rajasthan the prices dropped -242 Rupees to end at 7134.5 Rupees per 100 kg.
Soya Oil
Ref.Soya oil trading range for the day is 1253-1307.
Ref soyoil ended with losses tracking weakness in soyabean prices as sowing of soybean is good.
India has slashed the base import price of palm oil and soyoil, the government said in a statement, as prices fell in the overseas market.
India exported 5.31 lakh tonnes of oilmeals in the first two months of the fiscal 2021-22 against 3.50 lakh tonnes in the same period a year ago
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1300.3 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 991.7-1029.7.
Crude palm oil dropped as export demand from top buyer India eased during the day and expectations of an increasing stockpile weighed on sentiment.
MPOA's output projections lower than expected
India declared that the import of refined palm oil is amended from 'Restricted' to 'Free', allowing imports of the product for six months.
In spot market, Crude palm oil dropped by -2.6 Rupees to end at 1036 Rupees.
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