Soyabean trading range for the day is 6967-7175 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Soyabean
Soyabean trading range for the day is 6967-7175.
Soyabean prices dropped as prices were pressured by crop-boosting rains in the United States.
USDA report showed Soybean production in the world is likely to increase by 6% to 386 million tonnes in next season.
Edible Oil industry cautioned the government against resorting to any knee-jerk reaction of lowering import duties to cool down domestic prices
At the Indore spot market in top producer MP, soybean dropped -146 Rupees to 7342 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 6954-7158.
Mustard seed dropped as U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
COOIT wanted the Centre to remove the GST of 5 per cent on mustard seed and oil as it will help farmers and consumers both.
U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
In Alwar spot market in Rajasthan the prices gained 105 Rupees to end at 7325 Rupees per 100 kg.
Ref.Soya oil
Ref.Soya oil trading range for the day is 1378-1412.
Ref soyoil dropped as higher soybean output could limit edible oil imports
Indian farmers are likely to expand their soybean planting area by more than a tenth in 2021
Edible Oil industry cautioned the government against resorting to any knee-jerk reaction of lowering import duties to cool down domestic prices
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1426.5 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1168.2-1197.6.
Crude palm oil dropped as market expects an increase in production and hit by demand and lockdown concerns in Malaysia.
There are also concerns of stricter movement restrictions in Malaysia, which could implode consumption.
Malaysia has kept its May export tax for crude palm oil at 8% but raised the reference price.
In spot market, Crude palm oil dropped by -18 Rupees to end at 1187 Rupees.
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaime
