Soyabean trading range for the day is 6181-6521 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6181-6521.
Soyabean rose as support came after NOPA reported the November soybean crush at 179.462 million bushels, down 2.5% from October
USDA trimmed its global supply outlook despite market expectations for an increase.
SEA has suggested to the Centre to shift the acreage from grains to oilseed crops in the States such as Punjab and Haryana.
At the Indore spot market in top producer MP, soybean gained 136 Rupees to 6453 Rupees per 100 kgs.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1151-1193.
Ref soyoil gained tracking overseas prices after NOPA said soyoil supplies had slipped to 1.832 billion pounds by the end of November.
Soyoil imports more than doubled and India's vegetable oil imports in November rose 11% from a year earlier to 1.17 million tonnes.
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 1191.7 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1045.7-1093.7.
Crude palm oil gained as concerns about tightening production supported sentiment.
Indonesia Oct palm oil exports up 6.14%, 2021 total exports seen higher – GAPKI
Exports of Malaysian palm oil products for Dec. 1-15 fell 13.4% to 789,549 tonnes from the same period in November
In spot market, Crude palm oil gained by 11.6 Rupees to end at 1084.5 Rupees.
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