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Published on 19/07/2019 10:04:25 AM | Source: Kedia Commodity Ltd

Soya oil trading range for the day is 724-736 -Kedia Commodities

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

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Soyabean

* Soyabean trading range for the day is 3583-3671.

* Soyabean dropped on late profit booking after prices gained after update that soyabean growing central regions received 68% less rainfall.

* Government hike minimum support price by 9% or 311 rupees to 3,710 per 100 kg for 2019/20 which also helps to increase acreage this year.

* China's soybean imports fell 25% in June from the same month last year, according to customs data.

* At the Indore spot market in top producer MP, soybean dropped -9 Rupees to 3683 Rupees per 100 kgs.

 

RMSeed

* Rmseed trading range for the day is 3904-3974.

* Rmseed dropped on late profit booking after prices gained on hopes of meal demand from China as it refused shipment from Canada.

* Further, higher procurement by National Agricultural Cooperative Marketing Federation of India limited the fall in prices.

* Nil import of rapeseed oil for the third month in a row in May helped the mustard seeds prices to increase due to demand from crushing units.

* In Alwar spot market in Rajasthan the prices dropped -20 Rupees to end at 4128 Rupees per 100 kg.

 

Soyaoil

* Soya oil trading range for the day is 724-736.

* Ref soyoil ended with gains tracking weakness in spot demand on the progress of monsoon in more parts of Madhya Pradesh.

* U.S. June soybean crush fell by 3.85 per cent to 148.843 million bushels from 154.796 million bushels in May 2019.

* Global Oilseed production is estimated at 586.0 million tons, down by 11.7 million tonnes which are mostly on lower soybean production for the United States.

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 732.6 Rupees per 10 kgs.


 

CPO

* CPO trading range for the day is 495.9-503.3.

* Crude palm oil ended with gains tracking firmness in spot demand and overseas prices.

* Indonesia exported 2.03 million tonnes of palm and palm kernel oils in April and 2.40 million tonnes in May, GAPKI said.

* Malaysian stockpiles at end-June eased 0.97% on-month to 2.42 million tonnes, against the forecast of a 4% decline to 2.35 million tonnes.

* Crude palm oil prices in the spot market gained by 2.30 rupees and settled at 491.30 rupees.

 

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