Soyabean trading range for the day is 7004-7310 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7004-7310.
Soyabean dropped as USDA report showed Soybean production in the world is likely to increase by 6% to 386 million tonnes in next season.
China's April soybean imports from Brazil surge from previous month
Brazil's Abiove sees 2021 soybean exports at record 85.6 million tns
At the Indore spot market in top producer MP, soybean gained 18 Rupees to 7488 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 7013-7193.
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 1377-1433.
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 1437.7 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1182.4-1203.2.
Crude palm oil dropped 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 gained by 1.3 Rupees to end at 1207.3 Rupees.
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