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Soyabean Trading Range For The Day Is 3331-3473.
Soyabean on NCDEX settled down by -2.22% at 3384 on expectation of higher yield in global market and on subdued demand for soymeal in domestic market. Prices of bean were under pressure on higher supply hope following favorable weather across the major soybean producing region in United States and India.
Sowing progress in leading soybean producers like Madhya Pradesh, Maharashtra, and Rajasthan improved following good rains during July. As on Aug 19, soybean sowing was recorded at 11.28 million hectare compared to 11.27 million hectare, data showed.At the Indore spot market in top producer MP, soybean remains unchanged at 0 rupee to 32300 rupee per 100 kgs.
United States Department of Agriculture (USDA) rated 72% of the US soybean crop in good to excellent condition, a historically high figure that was unchanged from the previous week. The United States department of agriculture (USDA) hiked 2015-16 United States soybean production forecast for August and also raised its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report.We are provide all,Agri Commodity Market Tips,nse bse tips, and you can call us on :-9827808090.
Technically market is under fresh selling as market has witnessed gain in open interest by 2.12% to settled at 57330 while prices down -77 rupee, now Soyabean is getting support at 3357 and below same could see a test of 3331 level, And resistance is now likely to be seen at 3428, a move above could see prices testing 3473.
Sowing progress in leading soybean producers like Madhya Pradesh, Maharashtra, and Rajasthan improved following good rains during July. As on Aug 19, soybean sowing was recorded at 11.28 million hectare compared to 11.27 million hectare, data showed.At the Indore spot market in top producer MP, soybean remains unchanged at 0 rupee to 32300 rupee per 100 kgs.
United States Department of Agriculture (USDA) rated 72% of the US soybean crop in good to excellent condition, a historically high figure that was unchanged from the previous week. The United States department of agriculture (USDA) hiked 2015-16 United States soybean production forecast for August and also raised its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report.We are provide all,Agri Commodity Market Tips,nse bse tips, and you can call us on :-9827808090.
Technically market is under fresh selling as market has witnessed gain in open interest by 2.12% to settled at 57330 while prices down -77 rupee, now Soyabean is getting support at 3357 and below same could see a test of 3331 level, And resistance is now likely to be seen at 3428, a move above could see prices testing 3473.
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