Soyabean trading range for the day is 4610-4888 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4610-4888.
Soyabean gains after the U.S. Department of Agriculture cut its end-of-season U.S. supply outlook while raising exports in a monthly report.
Support also seen due to lower production and stock on both domestic and international.
USDA projected soybean ending stocks for the 2020/21 marketing year at 120 million bushels
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 4848 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5142-5340.
Mustard seed prices gained amid crop damage in north due to cold waves.
New mustard arrivals will start in Uttar Pradesh's mandis.
Production area of the Rabi season has reached a height of 73.94 lakh hectare
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6510.25 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1090-1136.
Ref soyoil gained on short covering after seen pressure as India's edible oil consumption is expected to contract in 2020/21
.Edible oil consumption could fall to 21 million tonnes in 2019/20 marketing year ending on Oct. 31 from 22 million a year earlier
Soyoil imports could drop marginally from last year's 3.4 million tonnes
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1115 Rupees per 10 kgs.
CPO
CPO trading range for the day is 982.5-1028.1.
Crude palm oil gains lifted by a jump in exports during Feb. 1-10 despite higher than expected end-January inventories.
Malaysia's palm oil inventories rose more than expected in January as exports plunged to a near 14-year low while output continued to decline
Stockpile in the world's second largest producer increased 4.7% to reach 1.32 million tonnes at the end of January from the month prior
In spot market, Crude palm oil dropped by -4.7 Rupees to end at 1012.3 Rupees.
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