NCDEX MARKET UPDATE

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Soyabean on NCDEX settled up by 0.63% at 3203 due to supply worries in domestic market following report of lower acreages and on improved demand in export market. Soyabean prices were supported by lower acreages number and on higher demand export market. According to data published by Agriculture Ministry soybean sowing until Sep 23 stood at 11.47 million tons compared to 11.62 million tons in the same period a year ago. Prices of the bean were also supported by higher demand for United States soybean following robust export sales data.

Trading Ideas:

Soyabean trading range for the day is 3146-3246.
Soyabean prices gained due to supply worries in domestic market following report of lower acreages and on improved demand in export market

Soyabean prices were supported by lower acreages number and on higher demand export market.

According to data soybean sowing stood at 11.47 million tons compared to 11.62 million tons in the same period a year ago.
At the Indore spot market in top producer MP, soybean gained 11 rupee to 3165 rupee per 100 kgs.

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