Soyabean trading range for the day is 8466-9072 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 8466-9072.
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.
China's July soybean imports from Brazil drop on poor crush margins
At the Indore spot market in top producer MP, soybean gained 293 Rupees to 9801 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 8053-8253.
Mustard seed dropped on profit booking after prices seen supported s 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 25.75 Rupees to end at 8123.25 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1384-1434.
Ref soyoil gained supported by lingering concerns over tight supply.
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 1420 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1166.8-1197.8.
Crude palm oil gained on some low level buying after prices dropped amid an increase in August production amid weak exports.
The Southern Peninsula Palm Oil Millers' Association forecast an 11.5% month-on-month rise in Aug. 1-20 production.
Malaysia's exports during Aug. 1-20 fell 9.9% from the same period in July, cargo surveyor Societe Generale de Surveillance said.
In spot market, Crude palm oil gained by 2 Rupees to end at 1196.5 Rupees.
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