Soyabean trading range for the day is 6440-7208 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6440-7208.
Soyabean dropped on profit booking after prices crosses 7000 level as China's imports of soybeans, soared in the first quarter
Support also seen amid concern over global supply remains supported and China's demand is faster than the US bio-diesel plan.
The country's oil meal exports are growing by 239 percent and Argentina's production estimates are expected to be cut.
At the Indore spot market in top producer MP, soybean gained 350 Rupees to 7070 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 6321-6589.
Mustard seed prices dropped on profit booking after prices rallied as then there is a concern about the supply from the lockdown.
Further, strong demand for mustard from mills continues.
Food regulator bans blending of mustard oil with other edible oils
In Alwar spot market in Rajasthan the prices gained 218.25 Rupees to end at 6500.5 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1319-1375.
Ref soyoil prices ended with gains as country's total vegetable oil imports rose marginally to 9,80,243 tonne in March 2021.
Support also seen due to low stocks, a slow recovery in output and higher global use in biofuel production.
The government is likely to review edible oil prices soon.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1349.45 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1138.8-1172.6.
Crude palm oil prices gained as support seen after India's palm oil imports rise 56.50% in March
Total vegetable oil imports rose marginally to 9,80,243 tonne in March 2021, compared to 9,55,422 tonne in the year-ago period.
Malaysia's end-March palm oil stocks jumped more than expected to a four-month top, boosted by higher imports and production
In spot market, Crude palm oil dropped by -1 Rupees to end at 1168.8 Rupees.
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