Soyabean On NCDEX Settled Up By 1.03% At 3251

Soyabean on NCDEX settled up by 1.03% at 3251 on short covering after prices dropped tracking weakness in spot demand and overseas prices. The U.S. soybean harvest was 26 percent complete as of now, ahead of the trade estimates' average of 25 percent but behind the five-year average of 27 percent, the U.S. Department of Agriculture (USDA) said. The USDA also said 74 percent of U.S soybeans were in good or excellent shape, up 1 percentage point from a week ago. INTL FCStone raised its estimate of the average U.S. 2016 soybean yield to a record 52.5 bushels per acre (bpa), from 50.1 in its previous monthly report.

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