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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.

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