Soyabean On NCDEX Settled Down -0.47% At 3168

Soyabean on NCDEX settled down -0.47% at 3168 on expectation of higher supply in global market. However, sharp fall in the bean prices was cushioned by strong demand for Indian soymeal in export market. According to market source India has received export orders of around 250,000-300,000 tons of soymeal as disparity of India soymeal to Argentina soymeal is around $1 which has tempted International buyers to buy soymeal from India. United States Department of Agriculture (USDA) is likely to hike is soybean crush forecast for October month by 27% as compared to previous month.

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