Soyabean trading range for the day is 6858-7292 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 6858-7292.
Soyabean prices gained tracking rise in overseas prices as global supply tightens, and demand persists.
USDA said soybean export sales totaled 731,500 tonnes, topping forecasts that ranged from 100,000 tonnes to 700,000 tonnes.
Russia plans to reduce export tax on soybeans from July 1
At the Indore spot market in top producer MP, soybean dropped -28 Rupees to 7235 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 6790-6990.b
Mustard seed prices dropped after reports 100% Rapeseed Mustard has been harvested
Pressure also seen after SOPA, MOPA and SEA have written a letter to SEBI to curb futures
As per USDA, World Mustard seed production is estimated to remain steady at 689 lakh tonnes in 2020-21.
In Alwar spot market in Rajasthan the prices gained 105 Rupees to end at 7325 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1333-1399.
Ref soyoil settled down on profit booking after reports that summer oilseed crop sowing progress is very good as on date.
There is no impact of COVID-19 pandemic situation on progress of area coverage under summer crops in the country.
Oilseeds 10.45 lakh ha area against 9.03 lakh ha area of last year, thus increase in area coverage by 1.41 lakh ha.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1427.5 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1134.4-1188.
Crude palm oil dropped as Indonesia's March crude palm oil production was up 13.5% compared to the year ago
Crude palm oil output in March stood at 3.71 million tonnes compared with the 3.27 million tonnes produced in the same month last year.
Indonesia estimates that it will export 5.9% more crude and refined palm oil in 2022 than this year, official data showed.
In spot market, Crude palm oil dropped by -3 Rupees to end at 1217.3 Rupees.n
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