Soyabean trading range for the day is 7101-7719 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7101-7719.
Soyabean gained as planting of overall oilseeds, including soybean was at 11.2 mln hec, down from 12.6 mln hec the previous year.
There has been shortage of certified seeds and they have been selling at high prices, but farmers have prepared their own seeds.
In Maharashtra, the government has claimed that there was no shortage of soybean seeds and sowing was in full swing.
At the Indore spot market in top producer MP, soybean gained 110 Rupees to 7654 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 6851-7067.
Mustard seed prices gained tracking firmness in overseas prices as drought continued across the Canadian Prairies, threatening crop yields.
The arrival of mustard in the mandis has decreased at all places in the country.
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 103 Rupees to end at 7222 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1278-1326.
Ref soyoil prices gained as China raised its forecast on imports of edible oils in 2020/21 marketing year.
China's 2020/21 edible oils imports were seen at 10.23 million tonnes, up 900,000 tonnes from last month's forecast.
India exported 5.31 lakh tonnes of oilmeals in the first two months of the fiscal 2021-22 against 3.50 lakh tonnes in the same period a year ago.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1324 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1025.1-1058.3.
Crude palm oil gains tracking firmness in Malaysian prices as an uptick in July 1-10 exports aided sentiment.
Exports of Malaysian palm oil products for July 1-10 rose between 2% and 4% from the same period in June, cargo surveyors said.
Malaysia end June palm oil stocks rose 2.8% to 1.61 mln T - MPOB.
In spot market, Crude palm oil gained by 10.8 Rupees to end at 1051 Rupees.
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