Soyabean trading range for the day is 8538-9390 - Kedia Advisory
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Soyabean
Soyabean trading range for the day is 8538-9390.
Soybean hit upper freeze of 6% as the delayed monsoon and the planting activity of soybean is adversely affected due to deficient rains in central India.
There were high speculation that there could be of drop in sowing to the tune of 10-12% expected in market.
Rainfall was fairly poor in many parts in the initial weeks of July, agriculturally the most critical month.
At the Indore spot market in top producer MP, soybean gained 858 Rupees to 9558 Rupees per 100 kgs.
Mustard seed
Rmseed trading range for the day is 7480-7890.
Mustard seed prices gained tracking firmness in overseas prices as drought continued across the Canadian Prairies, threatening crop yields.
The arrival of mustard in the mandis has decreased at all places in the country.
U.S. rapeseed production is forecast to reach a record 1.8 million tons on record area and trend yield.
In Alwar spot market in Rajasthan the prices gained 103 Rupees to end at 7737 Rupees per 100 kg.
Soya oil
Ref.Soya oil trading range for the day is 1378-1442.
Ref soyoil prices gained supported by lingering concerns over tight supply.
China raised its forecast on imports of edible oils in 2020/21 marketing year, on increase of palm oil and sunflower oil shipments.
China's 2020/21 edible oils imports were seen at 10.23 million tonnes, up 900,000 tonnes from last month's forecast.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 1429.25 Rupees per 10 kgs.
Crude palm oil
CPO trading range for the day is 1107.2-1163.2.
Crude palm oil gains buoyed by strong demand from top buyer India and a cut in domestic export tax reference price.
India demand shifting to Indonesia on discounts, higher supply.
Malaysia lowers reference price for August export tax.
In spot market, Crude palm oil gained by 27.5 Rupees to end at 1165.5 Rupees.
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