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Investment Guru India 2019-07-10 10:44:20

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Soyabean

* Soyabean trading range for the day is 3522-3624.

* Soyabean gained on short covering after prices dropped on reports of good monsoon rains in producing region.

* As per data released by SEA, soy meal exports provisionally down by 82.5% in June to 18,185 tonnes compared to last year.

* USDA forecast output at 109 lt in 2019/20, down 5% compared to last year.

* At the Indore spot market in top producer MP, soybean dropped -62 Rupees to 3565 Rupees per 100 kgs.

 

RMSeed

* Rmseed trading range for the day is 3874-3932.

* Mustard seed ended with losses tracking weakness in spot demand as the demand for rapemeal is slowed down.

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

* India exported about 19519 tons of rape seed meals during month of May 2019 against the 120630 tons of prior month.

* In Alwar spot market in Rajasthan the prices dropped -25.75 Rupees to end at 4050.75 Rupees per 100 kg.

 

Soyaoil

* Ref.Soya oil trading range for the day is 718-728.

* Ref soyoil prices dropped on progress of monsoon in more parts of Madhya Pradesh.

* India's oilmeal exports dropped 56% in June from a year ago to 114,972 tonnes as shipments of soymeal and rapeseed plunged.

* Slowdown in India's import of soyoil during the first 7 months (Nov-May) of the current oil (2018-29) year limited the downside.

* At the Indore spot market in Madhya Pradesh, soyoil was steady at 730 Rupees per 10 kgs.

 

CPO

* CPO trading range for the day is 490.3-501.5.

* Crude palm oil dropped ahead of official data release from the Malaysian Palm Oil Board this week, as the market expects bearish numbers due to weak demand.

* India imposed a 7.5% import duty on palm stearin in an attempt to boost local refining, but did not amend tariff rates for other soft oils, including palmolein.

* Palm oil inventories in Malaysia likely dropped to their lowest in nearly a year in June as exports and domestic consumption outpaced production.

* Crude palm oil prices in spot market dropped by 0.60 rupees and settled at 493.00 rupees.

 

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