Soyabean Recovered

Soyabean recovered from lows on short covering after prices dropped expectation of higher supply in global markets. However upside seen limited due to good demand from crushers amid steady sales of soymeal. Further farmers are reluctant to sell soybean below Rs 2,950 per quintal in market yards which is also forcing crushers to buy soybean at higher level. Crushers are buying soybean to make sure that they have sufficient inventory to operate the plant at average capacity for next 20-25 days to meet the domestic as well as international soymeal demand.

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