Soyabean trading range for the day is 5287-5733 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5287-5733.
Soyabean gained on short covering after prices seen pressure as as higher U.S. stocks weighed on the market.
Prices fell on pressure from larger-than-expected stocks reported by the U.S. Department of Agriculture (USDA).
India's soybean production is estimated to be 10 million tonnes as compared to last year's 8.9 million tonnes.
At the Indore spot market in top producer MP, soybean gained 132 Rupees to 5342 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 8177-8479.
Mustard seed prices dropped after update Strategie Grains has increased this year's EU rapeseed harvest forecast to 17.03 million tonnes.
The arrival of mustard has increased across the country.
The purchase of crushing plants has slowed down due to the new arrival of soybean in the mandis.
In Alwar spot market in Rajasthan the prices gained 141.6 Rupees to end at 8479 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1313-1339.
Ref soyoil gained on short covering after prices dropped as import of edible oil has increased due to reduction in duty
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 1334.2 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1119.1-1147.3.
Crude palm oil remained supported as industry estimates of weaker September output amid a surge in exports raised concerns over a decline in inventories.
The Southern Peninsula Palm Oil Millers' Association estimated production in September declined 2.3% from the month before.
India's palm oil imports in Sept to a record 1.4 mln T
In spot market, Crude palm oil gained by 0.6 Rupees to end at 1152.4 Rupees.
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