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Published on 21/05/2019 9:57:00 AM | Source: Kedia Commodity Ltd

Sell CPO May 2019 @ 528.00 SL 530.00 TGT 524.50-521.00.MCX - Kedia Commodities

Posted in Commodities Reports| #Kedia Commodity Ltd #Commodity Tips

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Soyabean

Soyabean trading range for the day is 3617-3773.

Soyabean settled down on reports of higher stocks with traders and stockists and weak demand of soymeal.

Millers and traders had stocks of nearly 19 lakh tons of mustard seed as on May 1, as per data from SOPA.

Out of total arrivals of 81 lakh tons, millers crushed 62 lakhs tons soybean during October-April, data showed.

At the Indore spot market in top producer MP, soybean dropped -48 Rupees to 3819 Rupees per 100 kgs.

SELL SOYABEAN JUN 2019 @ 3735 SL 3760 TGT 3710-3680.NCDEX

 

RMSeed

Rmseed trading range for the day is 3854-3950.

Rmseed dropped as demand from millers was weak in physical market amid increase in arrivals.

Nafed will not sell mustard at a discount after the ongoing procurement season.

European rapeseed production revised down to 18 million tonnes in 2019.

In Alwar spot market in Rajasthan the prices dropped -45.05 Rupees to end at 4025 Rupees per 100 kg.

BUY RMSEED JUN 2019 @ 3900 SL 3870 TGT 3940-3980.NCDEX

 

Soyaoil

Ref.Soya oil trading range for the day is 734-744.

Ref.Soya oil traded in range due to higher stocks at port and expectation of higher imports.

Weak support in physical at higher levels and cut in tariff value which would make imports cheaper also put pressure on prices.

However, downtrend is seen limited due to tight stocks and hopes of fresh demand for festival and marriage seasons.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 755.35 Rupees per 10 kgs.

SELL REF SOYA JUN 2019 @ 740.00 SL 743.00 TGT 737.20-734.50.NCDEX


 

CPO

CPO trading range for the day is 520-529.4.

Crude palm oil dropped pressured by worries over U.S.-China trade relations and bearish sentiment due to higher-than-forecast output in April weighed.

The Malaysian data showed that April stock levels fell 6.6% to a sixth-month low of 2.73 million tonnes while output declined to 1.65 million tonnes.

Palm oil inventories in Malaysia, the world's second-largest producer of the edible oil, eased to a six-month low at the end of April.

Crude palm oil prices in spot market dropped by 4.40 rupees and settled at 523.40 rupees.

SELL CPO MAY 2019 @ 528.00 SL 530.00 TGT 524.50-521.00.MCX

 

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