Soyabean Settled Up By 0.68% At 3714

Soyabean settled up by 0.68% at 3714 on higher export demand while easing supply worries following forecast for rainfall in Brazil capped the gain. Prices of the bean were supported after United States Department of Agriculture (USDA) reported robust soybean export sales in last week. As per USDA weekly export sales report last week for 2015-16 seasons is at 2.06 million tons were up by 99% from prior 4-weeks average. However, sharp gain in the bean prices was capped by hope of higher supply from Brazil, the world's second biggest crop producer. 

Brazil's weather forecasters said rain during the next two weeks could provide needed moisture for dry crop fields in the key state of Mato Grosso. The United States department of agriculture (USDA) maintained 2015-16 United States soybean production forecast and also maintain its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report.

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