Soyabean Traded In Range As Prices Seen

Soyabean traded in range as prices seen some pressure tracking weakness in spot demand and overseas prices after a sell-off in the Chinese soy complex based on ideas of higher production there. Prices of bean were down as daily arrivals in the local mandis rose after the forecast of good monsoon. The Kharif sowing which largely depends on monsoon rainfall would get benefited from the normal seasonal rains. All India soybean arrivals were around 150,000-155,000 bags as compared to 130,000-140,000 bags on previous day. Daily arrivals in Madhya Pradesh stood at around 65,000-70,000 bags, in Maharashtra 55,000-60,000 bags and in Rajasthan around 10,000-15,000 bags. Markets are still absorbing bearish data on March soybean crushing released in the previous session.

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