Soyabean trading range for the day is 5327-5507 - Kedia Advisory
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SOYABEAN
Soyabean trading range for the day is 5327-5507.
Soyabean gained on low level buying after prices seen pressured by bumper global stockpiles
Soyabean production is estimated to rise by 14 per cent to nearly 119 lakh tonnes
India's edible oil producers' body urges members to cut prices to help consumers
At the Indore spot market in top producer MP, soybean dropped -5 Rupees to 5512 Rupees per 100 kgs.
Soya Oil
Ref.Soya oil trading range for the day is 1175-1205.
Ref soyoil dropped on profit booking in anticipation of higher global edible oil supplies.
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: SEAAt the Indore spot market in Madhya Pradesh, soyoil was steady at 1250 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1069.2-1118.
Crude palm oil dropped as expectations of a larger rise in October stockpile also weighed on sentiment.
Malaysia's palm oil inventories at end-October is pegged to rise 3.4% to 1.81 million tonnes, lifted by a plunge in exports amid shrinking output.
However downside seen limited as supply constraints due to the rainy season and strength in rival oils supported the market.
In spot market, Crude palm oil dropped by -10.9 Rupees to end at 1116.1 Rupees.
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