Soyabean trading range for the day is 5183-5553 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5183-5553.
Soyabean gains supported by strong demand for U.S. supplies of the oilseed.
However upside seen limited on the expectation that soon arrival will hit mandi.
The average soybean production estimate was 4.415 billion bushels, up from USDA's September view of 4.374 billion.
The At the Indore spot market in top producer MP, soybean gained 57 Rupees to 5458 Rupees per 100 kgs.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1307-1333.
Ref soyoil prices settled flat as Govt. has decided to impose stock limits on edible oils and oilseeds up to March 31, 2022.
Oilseeds output is also expected to be down a tad at 23.38 mt as soyabean production was affected.
India’s Sept edible oil stocks at ports and pipelines rose 3.24 percent mom: SEA
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1364.4 Rupees per 10 kgs
Crude palm oil
CPO trading range for the day is 1149.4-1166.6
Crude palm oil dropped as a slump in early October exports outweighed support from tightening inventories.
Exports of Malaysian palm oil products for Oct. 1-10 fell 7.5% to 500,381 tonnes from the same period in September
Importers usually switch to other edible oils during winter as palm oil solidifies at lower temperature.
In spot market, Crude palm oil dropped by -5 Rupees to end at 1207 Rupees
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