04-01-2021 01:28 PM | Source: Kedia Advisory
Soyabean trading range for the day is 5830-6096 - Kedia Advisory
News By Tags | #473 #5839

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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.

 

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