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Soya oil trading range for the day is 1375-1417 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 8715-11087.
Soyabean dropped as about 112.15 lakh ha area coverage, which is more by 3.63 lakh.
However downside seen limited aided by global supply concerns following recent adverse weather in US key growing region.
China has imported record tonnages of Brazilian soybeans and is forecast to import 40-43 million metric tons of U.S. soybeans in 2021-2022.
At the Indore spot market in top producer MP, soybean dropped -21 Rupees to 10050 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7510-7786.
Mustard seed dropped as mustard arrivals in 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.
Estimated mustard crushing during June 2021 stood at 6 lakh tonnes, lower by 33% compared to 9 lakh tonnes last month.
In Alwar spot market in Rajasthan the prices gained 60 Rupees to end at 7900 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1375-1417.
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 1410 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1090-1144.
Crude palm oil dropped weighed down by a drop in Malaysian July exports and weakness in competing oils on the Dalian and Chicago exchanges.
Exports of Malaysian palm oil products for July fell between 5.0% and 7.7% from June, cargo surveyors said.
Malaysian palm oil production for July is expected to be lower on the month on lower oil yields and labour shortages at palm plantations.
In spot market, Crude palm oil dropped by -40.1 Rupees to end at 1147.4 Rupees.
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