Soyabean trading range for the day is 5426-5722 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 5426-5722.
Soyabean dropped on the expectation that soon arrival will hit mandi.
However downside seen limited on the news of damages due to rain in key sowing area.
The average soybean production estimate was 4.415 billion bushels, up from USDA's September view of 4.374 billion.
At the Indore spot market in top producer MP, soybean gained 68 Rupees to 5760 Rupees per 100 kgs.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1303-1341.
Ref soyoil 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.
Fresh Selling CHART 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 1362.1 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1127.9-1169.9.
Crude palm oil gained underpinned by signs of slowing production and a recovery in rival soyoil prices.
Indonesia's August palm oil exports jump 59%
Southern Peninsula Palm Oil Millers' Association estimated Malaysia's production during Sept. 1-20 fell 4.5% from the same period in August.
In spot market, Crude palm oil gained by 13.3 Rupees to end at 1201.5 Rupees.
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