Soyabean trading range for the day is 6065-6507 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6065-6507.
Soyabean dropped on profit booking tracking weakness in overseas prices as wetter weather in South America raised prospects of higher production.
In a monthly report, the USDA projected 2021/22 marketing year U.S. ending stocks at 340 million bushels, unchanged from a month earlier.
Private exporters reported sales of 130,000 metric tons of soybeans for delivery to China during the 2021/2022 marketing year.
At the Indore spot market in top producer MP, soybean dropped -221 Rupees to 6363 Rupees per 100 kgs.
Soya oil
Ref.Soya oil trading range for the day is 1150-1188.
Ref soyoil prices dropped as soyoil imports more than doubled in November.
The stock of edible oils at various ports was estimated at 7.04 lt and pipeline stock at 9.50 lt with a total stock of 16.54 lt. Mehta
Overall import of vegetable oils 11.73 lt in November when compared to 10.60 lt in October, and 11.02 lt in November 2020.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1194.4 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1074.9-1105.7.
Crude palm oil dropped as India's vegetable oil imports in November rose 11% from a year earlier to 1.17 million tonnes.
Import of CPO came down during November compared with October as rising palm oil prices reduced the discount.
SPPOMA estimated production during Dec. 1-10 fell 2.8% from the same period in November.
In spot market, Crude palm oil dropped by -6.7 Rupees to end at 1100.8 Rupees.
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