Thursday, 26 November 2015

NCDEX SOYABEAN NEWS

Soyabean settled up 0.34% at 3840 due to drop in production from the major producing belts along with tightening supplies. However, an additional margin of 5 percent on soybean futures imposed by the National Commodity & Derivatives Exchange (NCDEX) capped some gains in soyabean prices. The USDA has recently estimated Brazil production 2.4% higher versus last year’s. Already the USDA report released on November 10 was bearish for the global market.

The 2015/16 U.S. season-average soybean price is projected at $8.40 to $9.90 per bushel, unchanged from last month. Soybean meal prices are also unchanged at $310 to $350 per short ton. The 4th estimate released by the GOI indicated lower than the estimated production for Indian soybean.

Trading Ideas:
Soyabean trading range for the day is 3730-3932.
Soyabean prices ended with gains due to drop in production from the major producing belts along with tightening supplies.
However, an additional margin of 5 percent on soybean futures imposed by the National Commodity & Derivatives Exchange (NCDEX) capped some gains.
NCDEX accredited warehouses soyabean stocks gained by 1122 tonnes to 29332 tonnes.
At the Indore spot market in top producer MP, soybean dropped -13 rupee to 3733 rupee per 100 kgs.

Marketmagnify provide tips and advices to our clients by sms/calls/chat. We have dedicated team of analysts and we are providing reliable and valuable tips on stock, commodities. We believe in our customer satisfaction by giving them successful results.We provide high accurate Mcx Tips at very reasonable price to help small traders and investors to make decent money. Fill OUR FREE TRIAL We cover all types of services all segment.

1 comment:

  1. This good content for learning if you want to learn more about the market then you can also visit best share market blogs.mcx tips

    ReplyDelete