Soyabean trading range for the day is 7394-8166 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7394-8166.
Soyabean gained on short covering and as in Marathwada, there were concerns about mosaic virus, as well as infestation of pink and American bollworm.
In recent sessions prices trading with weakness since last week after Brazil said that they will be reducing there mandatory bio-diesel blend to 10% from 12%
USDA reported daily export sales 133,000 tonnes of soybeans to China and 132,150 tonnes of soybeans to unknown destinations, all for delivery in the 2021/22 marketing year.
At the Indore spot market in top producer MP, soybean dropped -194 Rupees to 8896 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7837-8149.
Mustard seed dropped amid weakness in overseas prices after reports that the U.S. EPA will recommend lowering biofuel blending mandates.
In recent session, prices seen supported 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
In Alwar spot market in Rajasthan the prices dropped -28.5 Rupees to end at 8020.25 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1387-1423.
Ref soyoil dropped amid profit booking tracking weakness in soyabean prices and other oilseed counters
The Government has reduced the import duty of Soyadegum oil to 7.50 percent from 15 percent earlier.
Edible oil prices are likely to remain elevated till the arrival of new crop in the October-November period, industry officials said.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1419.3 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1133.7-1151.7.
Crude palm oil settled flat on slow export shipments and industry estimates of an increase in August output.
Indonesia Sept crude palm oil export reference price, export tax set higher
Slow palm oil output growth to lift Malaysia's 2021 average prices to 3,600 rgt/T – MPOB
In spot market, Crude palm oil remains unchanged at by 0 Rupees to end at 1204 Rupees.
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