Soyabean Prices Dropped

Soyabean trading range for the day is 3537-3613.

Soyabean prices dropped tracking higher arrivals in physical market and weaken spot prices on anticipation of good sowing in coming kharif season.

Production forecast for soybean is pegged at 108 lakh tonnes (lt) compared to 90 lt last year due to normal monsoon forecast as per USDA monthly report.

NCDEX accredited warehouses soyabean stocks gained by 171 tonnes to 28064 tonnes.

At the Indore spot market in top producer MP, soybean dropped -35 Rupees to 3644 Rupees per 100 kgs.
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