Daily Soyabean Market Update-04-09-2015

Soyabean settled up by 0.9% at 3248 due to improved demand from oil crushers. The new season arrivals in India shall commence next month onwards when the key mandis start receiving new season harvests. However festival linked demand might emerge in upcoming weeks. Soybean sowing in Madhya Pradesh, India's biggest soybean producer, jumped 5.19% till now on improved monsoon, data released by Soybean Processors Association of India (SOPA) showed. Area sown in MP as per government data stood at 5.834 million hectare compared to 5.54 million hectare area sown during 2014.

Soyabean trading range for the day is 3205-3301.
Soyabean prices ended with gains due to improved demand from oil crushers.
The new season arrivals in India shall commence next month onwards when the key mandis start receiving new season harvests.
Area sown in Rajasthan as per government data jumped 60.86% to 1.09 million hectare compared to 682,000 hectare in the same period a year ago.
At the Indore spot market in top producer MP, soybean gained 13 rupee to 3427 rupee per 100 kgs.


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