Soyabean On NCDEX Settled Up 0.65% At 3844

Soyabean on NCDEX settled up 0.65% at 3844 on supply worries from United States following reports of marginal fall in planting and on improved demand following robust US soybean weekly sales data. In addition, tight supplies and pick-up in demand at spot markets also helped to support prices. However, the gains were capped as rains are expected to make steady progress in July, boosting the sowing of soybeans. The United States Department of Agriculture (USDA) estimated US 2016 soybean plantings at 83.7 million acres, a record high that was nonetheless below an average of trade estimates for 83.8 million.

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