Soyabean trading range for the day is 5830-6096 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Soyabean
* Soyabean trading range for the day is 5830-6096.
* Soyabean rallied and crossed 6000 level as soybean demand from millers increased on good export demand of soymeal along with improved domestic demand
* However upside seen limited on expectations of higher U.S. planting and improved weather in South America.
* The U.S. soybean crush likely fell to 4.952 million short tons in February, or 165.1 million bushels
* At the Indore spot market in top producer MP, soybean gained 54 Rupees to 6032 Rupees per 100 kgs
Mustard seed
* Rmseed trading range for the day is 5572-5750.
* Mustard seed prices dropped as arrivals increased on commencement of new season crop arrivals in the mandis.
* Arrivals in its major producing states i.e. Rajasthan, Gujarat, Madhya Pradesh, Uttar Pradesh and West Bengal rose compared to last Month.
* However unseasonal rains and hailstorms in key states like Rajasthan, MP, Maharashtra and UP were observed but no major crop damage was reported
* In Alwar spot market in Rajasthan the prices dropped -88.5 Rupees to end at 5600 Rupees per 100 kg.
Soya oil
* Ref.Soya oil trading range for the day is 1229-1295.
* Ref soyoil prices gained tracking rise in soyabean prices as export of oilmeals jumped 205% year-on-year
* Support also seen due to tightening global supplies.
* However government is watching edible oils and may take step to control high prices.
* At the Indore spot market in Madhya Pradesh, soyoil was steady at 1266.15 Rupees per 10 kgs.
Crude palm oil
* CPO trading range for the day is 1037-1098.6.
* Crude palm oil ended with gains as support seen after data showed Malaysian Exports for March rose 26.8 percent
* Malaysia's March palm oil exports rise 26.8 pct – ITS
* Malaysia's March palm oil exports rise 27.6% – AmSpec Agri
* In spot market, Crude palm oil dropped by -7.7 Rupees to end at 1123.3 Rupees.
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
