05:43
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Advisory Data:-
Soyabean futures shrugged by almost Rs 100 per quintal today
due to strapping production estimates in the current year all beside with fresh
supplies in major mandies.
The latest first kharif advance estimates by government
dragged the futures prices to lower levels today. The latest government data
estimated the total Soyabean Kharif 2012 crop at 126.2 lakh tonnes , up 3.44
lakh tonnes from the final estimate of 2011-12.
Also, the total daily arrival of new soyabean in the mandies
of Maharashtra such as Sholapur, Latur and Akola also added selling force in
domestic market. The total arrivals of around 28000-30000 bags were reported in
the last trading with the price range of Rs 3100-3400 per quintal , down almost
Rs 50 per quintal today.
The NCDEX October Soyabean contract shrugged off by almost
Rs 100 per quintal to settle at Rs 3305 per quintal in today's trading. The
NCDEX futures touched the three month's low in today's trading. The contract
added almost 100 positions in open interest indicating small covering.
Posted in: ncdex free trial,Soyabean Updates
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