Soyabean trading range for the day is 5412-5576 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5412-5576.
Soyabean dropped as Soyabean production is estimated to rise by 14 per cent to nearly 119 lakh tonnes this year on higher sowing area
India's edible oil producers' body urges members to cut prices to help consumers
Private exporters reported the sale of 132,000 tonnes of soybeans to unknown destinations for delivery in the 2021/22 marketing year
At the Indore spot market in top producer MP, soybean gained 21 Rupees to 5707 Rupees per 100 kgs.
Soya oil
Ref.Soya oil trading range for the day is 1255-1271.
Ref soyoil dropped on profit booking after prices seen supported as the vegetable oil market faces a significant squeeze due to lower output.
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 1300 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1115.2-1134.4.
Crude palm oil dropped as expectations of higher end stocks for October and rumours of poorer exports weighed on sentiment.
However downside seen limited as supply constraints due to the rainy season and strength in rival oils supported the market.
The Southern Peninsula Palm Oil Millers' Association estimated Oct. 1-15 production declined 0.2% from the month before in some parts of Malaysia.
In spot market, Crude palm oil dropped by -6.3 Rupees to end at 1140.2 Rupees.
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