Soyabean trading range for the day is 7270-7728 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7270-7728.
Soyabean rose amid concerns over global supplies after domestic processors and importers led by China loaded up on grain and oilseeds this season.
China’s imports of the oilseed from the United States more than quadrupled.
China's March soybean imports from Brazil plunged as rain delayed some shipments from the top exporter
At the Indore spot market in top producer MP, soybean gained 143 Rupees to 7512 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 6956-7248.
Mustard seed prices gained as crushing as increased due to rise in mustard oil demand.
A total of 1.2 million tonnes of mustard crushing occurred in the country in March 2021 compared to 5.50 lakh tonnes in the month of February.
The stock of mustard with farmers is estimated to be 62.50 lakh tonnes and processors and stockists have a stock of six lakh tonnes of mustard.
In Alwar spot market in Rajasthan the prices dropped -206 Rupees to end at 7119 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1397-1441.
Ref soyoil ended with gains as total vegetable oil imports rose marginally to 9,80,243 tonne in March 2021.
Support also seen due to low stocks, a slow recovery in output and higher global use in biofuel production.
Prices rallied in recent session tracking rise in soyabean prices after the USDA's plantings forecast for 2021 fell below most trade expectations.
Prices rallied in recent session tracking rise in soyabean prices after the USDA's plantings forecast for 2021 fell below most trade expectations.
Crude palm oil
CPO trading range for the day is 1187.7-1231.3.
Crude palm oil prices gained tracking rise in Malaysian prices lifted by tight supplies and stronger exports in April.
India's palm oil imports in March jumped 57% year on year as refiners increased purchases of the tropical oil to reduce expensive sunflower oil imports.
Malaysia's end-March palm oil stocks jumped more than expected to a four-month top, boosted by higher imports and production.
In spot market, Crude palm oil gained by 2.5 Rupees to end at 1204 Rupees.
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