Soyabean On NCDEX Settled Down By -0.21% At 3252

Soyabean on NCDEX settled down by -0.21% at 3252 on profit booking after gaining earlier due to increased demand in the spot market. Pressure also seen on prices as the United States harvesting season of the record crop is in progress. The government also reported that private exporters had sold 120,000 tons of soybeans for delivery to China during the 2016-17 crop years. In the USDA Quarterly grain stock report, released on September 30, the US soybean stocks were reported at a five-year high of 197 million bushels for old crop soybeans stored in all positions on 1 September 2016. Of which on farms stocks totaled at 41.6 million bushels, down 16% from a year ago.

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