Soyabean trading range for the day is 6231-6637 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6231-6637.
Soyabean gains after the U.S. Department of Agriculture (USDA) trimmed its global supply outlook despite market expectations for an increase.
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 -68 Rupees to 6497 Rupees per 100 kgs.
Soya oil
Ref.Soya oil trading range for the day is 1167-1191.
Ref soyoil gains tracking soyabean prices as the 2021/22 global oilseed supply and demand forecasts include lower production and lower ending stocks
The U.S raised a proposal to scale back biofuel blending mandates.
The Maharashtra Government has decided not to put stock-limit on edible oil stocks
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1206.5 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1088-1117.8.
Crude palm oil ended with small losses due to a smaller-than-expected decline in November stockpile.
Malaysia's palm oil end-stocks fell 0.96% by November-end from October to 1.82 million tonnes, Malaysian Palm Oil Board (MPOB) data showed.
Crude palm oil production declined 5.3% from October to 1.63 million tonnes, while palm oil exports rose 3.3% to 1.47 million tonnes, MPOB said.
In spot market, Crude palm oil dropped by -0.9 Rupees to end at 1112.2 Rupees.
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