Friday, 26 February 2016
Ncdex Soyabean Latest News Update By MarketMagnify
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Soyabean settled up by 0.11% at 3689 on fresh buying support, guided by firm spot markets. Rising demand of soymeal also enthused trading sentiments. However, lower prices at international markets ahead of the release of USDA’s acreage forecasts at its annual two-day Outlook Forum that expected to say that farmers will plant more soybeans this year than last, capped some gains.
Soyabean trading range for the day is 3642-3728.
Soyabean edged higher on fresh buying support, guided by firm spot markets.
In the second Advance Estimates of production of major crops for 2015-16, soybean production is pegged at 9.13 mt.
NCDEX accredited warehouses soyabean stocks gained by 192 tonnes to 47195 tonnes.