Soyabean trading range for the day is 7079-8209 - 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 7079-8209.
Soyabean gained as 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.
India to import 1.2 mn tonne GM soyameal after govt clears air
At the Indore spot market in top producer MP, soybean gained 63 Rupees to 9153 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7665-8031.
Mustard seed prices gained 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 120.75 Rupees to end at 7920.75 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1387-1409.
Ref soyoil dropped tracking weakness in 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 1424.9 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1163-1181.2.
Crude palm oil dropped amid anticipation of an increase in production and bleak demand outlook.
Export shipments during the first half of August had plunged between 15% and 24% from the previous month
Indonesia's palm oil exports fell 26.8% in June from the same month a year earlier to 2.03 million tonnes due to volatile prices
In spot market, Crude palm oil dropped by -7.4 Rupees to end at 1203.3 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 Disclaimer
