Soyabean trading range for the day is 8108-8974 - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Soyabean
Soyabean trading range for the day is 8108-8974.
Soyabean prices remained supported as USDA attache sees China 2021/22 soybean imports at 101 million tonnes
In Marathwada, there were concerns about mosaic virus, as well as infestation of pink and American bollworm.
Production confidence for LIS soybeans has been increasing and there has been recent rainfall across previously drought impacted regions.
At the Indore spot market in top producer MP, soybean gained 132 Rupees to 9131 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 8517-8769.
Mustard seed prices dropped on profit booking and tracking weakness in overseas as prices faced pressure from commercial hedges as farmers sold more of their new harvest.
However downside seen limited amid regular demand from the stockists and lowering all India arrivals.
The Government has increased the Mustard seed MSP from 4650.00 to 5050 i.e Rs.400 per quintal for RMS 2022-23.
In Alwar spot market in Rajasthan the prices gained 141.6 Rupees to end at 8784.25 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1358-1390.
Ref soyoil dropped on profit booking after prices seen supported amid lingering concerns over tight supply.
Support seen on the back of tightening inventory levels of major vegetable oils and possibility of a lower planting area in oilseeds.
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 1394.85 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1107.2-1154.2.
Crude palm oil dropped weighed by expectations of a rise in August supply ahead of official data and poor import margins in key destination markets.
However global stocks are seen falling to their lowest in five years amid output disruptions
Indonesia crude palm oil output forecast to rise in 2022 – Institute
In spot market, Crude palm oil gained by 0.6 Rupees to end at 1183.8 Rupees.
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
