Soyabean trading range for the day is 7418-8526 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7418-8526.
Soyabean prices remained supported as in Marathwada, there were concerns about mosaic virus, as well as infestation of pink and American bollworm.
However upside seen limited amid weakness in overseas prices as forecasts of rains in parts of the U.S. Midwest boosted hopes for better yields.
Mustard seed
Rmseed trading range for the day is 7701-8245.
Mustard seed prices gained 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
EU Oilseeds situation report estimates that the EU will import 6 million metric tons of rapeseed from third countries in 2021-22.
In Alwar spot market in Rajasthan the prices gained 73.75 Rupees to end at 7994.5 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1340-1446.
Ref soyoil dropped as pressure seen as the Government has reduced the import duty of Soyadegum oil to 7.50 percent from 15 percent earlier.
However downside seen limited supported by lingering concerns over tight supply.
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 1422.35 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1132.4-1213.6.
Crude palm oil gained on short covering after prices dropepd in last few sessions amid anticipation of an increase in production and bleak demand outlook
Export shipments during the first half of August had plunged between 15% and 24% from the previous month
Indonesia's palm oil exports fell 26.8% in June from the same month a year earlier to 2.03 million tonnes due to volatile prices
In spot market, Crude palm oil dropped by -3.8 Rupees to end at 1199 Rupees.
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