Soyabean trading range for the day is 7985-9095 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 7985-9095.
Soyabean prices dropped as some pressure after India allows GM soymeal imports via three more ports
Production confidence for LIS soybeans has been increasing and there has been recent rainfall across previously drought impacted regions.
Brazilian soybean production reached new records in 2021 and are forecast to increase by a further 7Mt to 144Mt in 2022.
At the Indore spot market in top producer MP, soybean gained 132 Rupees to 9090 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 8365-8687.
Rmseed prices gained amid regular demand from the stockists and lowering all India arrivals.
In their August report, the IGC lowered their forecast for the world rapeseed production to 70.9 million tons.
USDA estimates Canada rapeseed production for marketing year 2021/22 at 16.0 million metric tons (mmt), down 4.2 mmt (21 percent) from last month
In Alwar spot market in Rajasthan the prices gained 141.6 Rupees to end at 8767 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1371-1407.
Ref soyoil dropped amid reports of Brazil harvesting a bigger crop from last year and India to allow soymeal import.
However downside seen limited amid 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 1408.55 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1123.4-1166.
Crude palm oil dropped as Malaysia's palm oil inventories at the end of August jumped to its highest in over a year
Palm oil stockpile rose 16.3% from July to 1.74 million tonnes, its highest since June last year.
Output in the world's second-biggest palm oil producer rose 11.2% to 1.7 million tonnes, peaking at a 10-month high.
In spot market, Crude palm oil gained by 0.6 Rupees to end at 1194.6 Rupees.
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