Soyabean on NCDEX settled up 0.65% at 3844 on supply worries from United States following reports of marginal fall in planting and on improved demand following robust US soybean weekly sales data.

 In addition, tight supplies and pick-up in demand at spot markets also helped to support prices. However, the gains were capped as rains are expected to make steady progress in July, boosting the sowing of soybeans. The United States Department of Agriculture (USDA) estimated US 2016 soybean plantings at 83.7 million acres, a record high that was nonetheless below an average of trade estimates for 83.8 million. 

As per Ministry of Agriculture, till now around 281,000 hectares sowing has been done compared to 2.034 million hectare sowing completed in the same period a year ago. In the June USDA acreage report, US soybean planted area for 2016 is estimated at a record high 83.7 million acres, up 1 percent from last year. 

Area for harvest, at 83.0 million acres, is also up 1 percent from 2015 and will be a record high if realized. Record high planted acreage is estimated in Michigan, Minnesota, New York, North Dakota, Ohio, Pennsylvania, and Wisconsin.

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