Soyabean On NCDEX Settled Up By 0.03% At 3079



Soyabean on NCDEX settled up by 0.03% at 3079 on expectation of sharp gain in the export order for soymeal and due to higher production. Demand from processors is weak due to negative crush margins. SOPA reported India soybean meal exports during the month of January at 155,000 tons against 241,000 tons a month ago, showing a decline of 35%. Market participants were expecting that India will comfortably export around 300,000-400,000 tones as India soymeal was in Parity of around $30-40 against Argentine soymeal for whole January month. Increasing export enquiries for US soybeans as well as south American beans pushing the prices higher.

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