Crude Palm Oil

CPO trading range for the day is 550.1-583.3. Crude palm oil gains on higher tariff value and expectation of further hike in import duty for edible oil. According to SEA release, during Nov-Sep period, crude palm oil import is 57.34 lakh tonnes, up 9.5% from 52.34 lt during the same period of the previous oil year.

Malaysia's palm oil output is expected to have risen to a two-year peak in October, lifting inventories to their highest since January 2016. Crude palm oil prices in spot market gained by 7.30 rupees and settled at 551.30 rupees.

BUY CPO NOV 2017 @ 565.00 SL 560.00 TGT 572.00-580.00.MCX

Soyabean

Soyabean trading range for the day is 2831-2939. Soyabean prices ended with gains tracking firmness in spot demand amid rise in overseas prices on concerns over supply in US and Brazil. USDA may trim its output forecast to 4.4 million bushel compared to 4.43 million bushels expected earlier.

NCDEX accredited warehouses soyabean stocks gained by 3887 tonnes to 81754 tonnes. At the Indore spot market in top producer MP, soybean gained 52 Rupees to 2820 Rupees per 100 kgs.

BUY SOYABEAN DEC @ 2865 SL BELOW 2830 TGT 2895-2920. NCDEX (BTST)

Rmseed

Rmseed trading range for the day is 3944-4040. Mustard seed prices gained as physical demand increasing amid good demand from the oil mills. Gujarat 2017-18 mustard sowing till Nov 6 at 151,700 hec vs 78,500 hec a year ago

NCDEX accredited warehouses mustard seed stocks gained by 192 tonnes to 1566 tonnes. In Alwar spot market in Rajasthan the prices gained 25.75 Rupees to end at 3973.5 Rupees per 100 kg.

BUY RMSEED DEC 2017 @ 3980 SL 3950 TGT 4020-4050.NCDEX.

Ref.Soya oil

Ref.Soya oil trading range for the day is 702-732. Ref soyoil ended with gains on hope of higher demand for soyoil following expectation that government may hike edible oil import duty. Prices were also supported by hope of higher demand for meal in coming month following increased demand in October month.

India’s edible oil imports are likely to rise to 15.90 million tonnes in the 12 months through October 2018, up from an estimated 15.14 million tonnes. At the Indore spot market in Madhya Pradesh, soyoil was steady at 691.65 Rupees per 10 kgs.

BUY REF SOYA DEC 2017 @ 715.00 SL 710.00 TGT 719.00-724.00.NCDEX.

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