Soyabean trading range for the day is 5193-5331 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5193-5331.
Soyabean prices dropped as Soyabean output may rise 14% to 11.9 mn tn this year
SOPA said that the total area under soybean for the year 2021 is 119.984 lakh hectares.
China Sept soybean imports fall 30% y/y on slowing demand
At the Indore spot market in top producer MP, soybean dropped -53 Rupees to 5337 Rupees per 100 kgs.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1236-1258.
Ref soyoil gained on some low level buying after prices dropped as India cuts base import tax on crude vegetable oil imports to zero %
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 1281.25 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1089.2-1117.8.
Crude palm oil settled flat as India slashed its base import tax on crude palm oil, to zero from 2.5%
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 -114.7 Rupees to end at 1109.8 Rupees.
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