Soyabean trading range for the day is 7021-8361 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7021-8361.
Soyabean dropped after India to import 1.2 mn tonne GM soyameal after govt clears air
U.S. Department of Agriculture cut its U.S. production and yield estimates from last month.
The USDA, in a monthly report, estimated U.S. soybean production at 4.339 billion bushels, with an average yield of 50.0 bushels per acre.
At the Indore spot market in top producer MP, soybean gained 631 Rupees to 9192 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7729-8227.
Mustard seed pared gains on profit booking after prices crossed 8000 mark as USDA estimates Canada rapeseed production down as drought in the Prairies intensifies
EU weekly rapeseed imports jumped by 70% to 127k mt, total at 414k mt
EU Oilseeds situation report estimates that the EU will import 6 million metric tons of rapeseed from third countries in 2021-22.
In Alwar spot market in Rajasthan the prices gained 309 Rupees to end at 8071.75 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1389-1445.
Ref soyoil dropped tracking weakness in Soyabean and CPO prices after seen supported by lingering concerns over tight supply.
Edible oil prices are likely to remain elevated till the arrival of new crop in the October-November period, industry officials said.
The soybean oil price has surged due to efforts of making renewable bio-diesel fuel from it in the US, Brazil and other countries.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1439.5 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1164.6-1203.6.
Crude palm oil pared gains after exports of Malaysian palm oil products for Aug. 1-15 fell 15.3 percent to 577,972 tonnes.
However support seen earlier amid lower stockpiles and tightening production.
Exports of Malaysian palm oil products for Aug. 1-10 fell between 10% and 12.8% from the same period in July
In spot market, Crude palm oil gained by 15.5 Rupees to end at 1221.5 Rupees.
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