Soyabean trading range for the day is 7325-7979 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7325-7979
Soyabean prices gained amid tightening inventory situation in the country and amid slower pace of sowing.
Government reports indicate that the weakening of rains has impacted the sowing of crops in Maharashtra, Gujarat, Rajasthan, Haryana and Punjab.
Area sown under soybean was lagging behind last year’s area by nearly 11.05 per cent
At the Indore spot market in top producer MP, soybean gained 42 Rupees to 7544 Rupees per 100 kgs.
Rmseed
Rmseed trading range for the day is 7057-7539.
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 dropped -15.5 Rupees to end at 7119 Rupees per 100 kg.
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Ref.Soya oil
Ref.Soya oil trading range for the day is 1334-1396.
Ref soyoil gained supported by lingering concerns over tight supply
China raised its forecast on imports of edible oils in 2020/21 marketing year, on increase of palm oil and sunflower oil shipments.
China's 2020/21 edible oils imports were seen at 10.23 million tonnes, up 900,000 tonnes from last month's forecast
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1297.5 Rupees per 10 kgs.
CPO
CPO trading range for the day is 1062.1-1114.1
Crude palm oil gained on higher exports during July 1-15 and expectations of a sluggish rise in production.
Exports of Malaysian palm oil products for July 1-15 rose 3.8% to 682,426 tonnes from June 1-15
Investors are also expecting palm oil production in July to be below potential despite the peak production season due to a labour shortage.
In spot market, Crude palm oil gained by 8.4 Rupees to end at 1040.2 Rupees.
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