Soyabean trading range for the day is 6024-6632 - Kedia Advisory
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SOYABEAN
Soyabean trading range for the day is 6024-6632.
Soyabean gained amid soaring demand for soymeal, amid transportation bottlenecks and labour shortages.
USDA's November monthly report showed soyabean production in India has grown 8% month-on-month to 11.9 million tonnes.
China's Oct. soy imports from U.S. slump due to weak demand, hurricane
At the Indore spot market in top producer MP, soybean gained 424 Rupees to 6570 Rupees per 100 kgs.
SOYOIL
Ref.Soya oil trading range for the day is 1225-1253.
Ref soyoil 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 1260 Rupees per 10 kgs.
Oilseed
CPO trading range for the day is 1142.1-1161.3.
Crude palm oil prices seen supported underpinned by estimates of weaker production and higher exports
Concerns over weaker output is weighing on the market as plantations enter the lower production season amid rainy weather.
The Southern Peninsula Palm Oil Millers' Association (SPPOMA) estimated production during Nov. 1-15 fell 6.3% from the month before.
In spot market, Crude palm oil gained by 8.5 Rupees to end at 1149 Rupees.
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