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SOYABEAN

Soyabean trading range for the day is 7015-7411.

Soyabean gains as sowing may get impacted amid slow monsoon progress and lack of certified seeds

There is lesser availability of certified seeds this year - SOPA

Rains have not picked up in Madhya Pradesh and Rajasthan for sowing to gather momentum.

At the Indore spot market in top producer MP, soybean gained 51 Rupees to 7325 Rupees per 100 kgs.

RMSEED

Rmseed trading range for the day is 6839-7071.

Mustard seed dropped as U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.

Pressure also seen as Canada rapeseed production is projected at 20.5 million tons, up 1.5 million on greater area.

However downside limited as the arrival of mustard in the mandis has decreased at all places in the country.

In Alwar spot market in Rajasthan the prices dropped -125 Rupees to end at 7110.25 Rupees per 100 kg.

SOYOIL

Ref.Soya oil trading range for the day is 1184-1276.

Ref soyoil dropped on profit booking after prices reduction in base import tax on crude palm oil to 10% from 15% for three months.

India exported 5.31 lakh tonnes of oilmeals in the first two months of the fiscal 2021-22

A coalition of nine Argentine port worker unions went on a nationwide 24-hour strike to press for vaccinations against the coronavirus.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 1279.1 Rupees per 10 kgs.

CRUDE PALM OIL

CPO trading range for the day is 946.8-1031.4.

Crude palm oil dropped after the world's biggest vegetable oil buyer, India, reduced its import tax for the commodity.

India lowers import tax to 10% for three months

June exports rise between 7% and 8.6% m/m

In spot market, Crude palm oil dropped by -24.1 Rupees to end at 1030.2 Rupees.

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