Soyabean trading range for the day is 5061-5243 Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5061-5243.
Soyabean gained as dry weather in key supplier Argentina buoyed the market as concerns increased over crops in Argentina
World’s soybean exports were raised by 0.6 million tons to 169.7 million on higher exports from the United States and Russia.
The major global soybean supplies are tight on soybeans
At the Indore spot market in top producer MP, soybean gained 32 Rupees to 5404 Rupees per 100 kgs.
RmSeed
Rmseed trading range for the day is 5403-5777.
Mustard seed gained due to better demand as millers remain in the procurement due to the pipeline being empty.
However upside seen limited as the mustard sowing was excellent this year and production is expected to be better with favorable weather.
The arrival of new crops has started increasing in the mandis. The daily arrival of mustard in the current weekend was 1.85 lakh kattas.
In Alwar spot market in Rajasthan the prices gained 52.15 Rupees to end at 5791.5 Rupees per 100 kg.
Soyaoil
Ref.Soya oil trading range for the day is 1199-1249.
Ref soyoil prices gained amid higher demand for edible oils amid winter season and lower imports of Soybean oil
Very heavy rains remain in the forecast for Brazil's northern soybean belt, where farmers are trying to harvest the soybean crop.
A strong export pace of soybeans could limit the amount of supplies available to crush into soymeal and soyoil.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1236.4 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1084.8-1111.4.
Crude palm oil gains buoyed by a rally in rival soyoil, crude and world markets on passage of a U.S. stimulus package
The market is now awaiting for the February supply and demand data by the Malaysian Palm Oil Board, due on Wednesday
India has imported more than 500,000 tonnes of palm oil from Malaysia last month out of its overall edible oil imports of about 1.07 million tonnes.
In spot market, Crude palm oil gained by 39.1 Rupees to end at 1106 Rupees.
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