Soyabean On NCDEX Settled Down By -0.1% At 3122

Soyabean on NCDEX settled down by -0.1% at 3122 due to arrival of new season crop from Madhya Pradesh, Rajasthan and Maharashtra. Moreover, hopes of bumper crop output along with feeble export demand also prompted weakness. Arrivals of the commodity across the country were at 675,000 bags, higher than 600,000 bags previous day, as farmers were cashing in ahead of Diwali at the end of this month. Forecast of dry and clear weather in Rajasthan, MP and Maharashtra will improve harvesting process of soybean. Record production this season may continue to keep the supplies heavy during coming days.

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