Soyabean trading range for the day is 4858-5008 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 4858-5008.
Soyabean gains after the USDA projected that domestic supplies of the oilseed would remain tight into 2022, stoking concerns of global supply.
U.S. stockpiles of soybeans are expected to increase only slightly by the end of the 2021/22 marketing year on Aug. 31, 2022
U.S. soybean export demand capped gains as South America's harvest ramped up and as soy export shipments from top supplier Brazil accelerated.
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5101 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 5249-5493.
Mustard seed gained due to better demand as millers remain in the procurement due to the pipeline being empty.
The mustard sowing was excellent this year, production is expected to be better with favorable weather. The arrival of new crops has started increasing in the mandis.
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 6161.5 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1145-1161.
Ref soyoil gained after support seen as extreme cold weather in key U.S. growing areas Support also seen amid higher demand for edible oils amid winter season and lower imports of Soybean oil in the recent months.
The growth may be limited as US soy oil export sales are not encouraging.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1162.05 Rupees per 10 kgs
CPO
CPO trading range for the day is 1041.5-1055.3.
Crude palm oil gains as tight supply of palm oils, combined with a higher Indonesian export levy to fund its biodiesel programme has spurred prices
Malaysian palm oil product exports for February 1-20 rose 14.9% to 698,380 tonnes from 607,900 tonnes shipped during January 1-20
India has raised the base import price of crude palm oil by $32 to $1,045 per tonne.
In spot market, Crude palm oil gained by 17.3 Rupees to end at 1054.9 Rupees.
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