Soyabean trading range for the day is 7364-7854 - Kedia Advisory
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SOYABEAN
Soyabean trading range for the day is 7364-7854.
Soyabean prices gained as the area is expected to decline amid less rain and overseas prices fueled by supply worries in the US.
The USDA said U.S. farmers planted soy on 87.555 million acres, below analysts' expectations for 88.955 million.
CME raises soybean futures maintenance margins by 11.1% to $5,000 per contract from $4,500 for July 2021
At the Indore spot market in top producer MP, soybean gained 149 Rupees to 7634 Rupees per 100 kgs.
RMSEED
Rmseed trading range for the day is 6960-7444.
Mustard seed pared gains on profit booking after prices seen supported as as the arrival has decreased
U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
Canada rapeseed production is projected at 20.5 million tons, up 1.5 million on greater area.
In Alwar spot market in Rajasthan the prices gained 164 Rupees to end at 7376.5 Rupees per 100 kg.
SOYOIL
Ref.Soya oil trading range for the day is 1286-1332.
Ref soyoil ended with gains as concerns over tightening edible oil supply underpinned prices.
India has slashed the base import price of palm oil and soyoil, the government said in a statement, as prices fell in the overseas market.
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 1323.95 Rupees per 10 kgs.
CRUDE PALM OIL
CPO trading range for the day is 1012.7-1047.5.
Crude palm oil gains driven by prospects of stronger demand after allowed imports of refined palm oil and cut tax on the commodity.
India declared that the import of refined palm oil is amended from 'Restricted' to 'Free', allowing imports of the product for six months.
Fitch says Indonesia's export levy revision to pressure crude palm oil prices
In spot market, Crude palm oil gained by 18.7 Rupees to end at 1046 Rupees.
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