Soyabean On NCDEX Settled Up 1.01% At 2991

Soyabean on NCDEX settled up 1.01% at 2991 on account of higher demand and tighter supplies in the domestic market. Further, higher prices at international markets as investors covered short positions and rains delayed fieldwork in parts of the US grain belt, too led to rise in soyabean prices. Though, the soybean market is struggling under the pressure of a global supply glut. Soybean arrivals in local mandis during March fell by 23% compared to previous month as farmers were reluctant to sell crops at lower prices, said the Soybean Processors Association of India.

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