NCDEX July Soyabean prices down due to poor demand in spot markets
and weakness in benchmark CBOT Soyabean prices. Moreover, progress of
South west monsoon and pre-monsoon showers in key growing areas were
also supported the fall. It is likely to trade on a negative note
today as monsoon rainfall has advanced to certain parts of eastern
Madhya Pradesh and is likely to cover the whole state by the weekend.
It is likely to support sowing activity in these areas pressurizing
prices of Soyabean futures.
Soyabean trade ended the day at Rs. 3829 per quintal which is approx
1.57% down against its previous close. We recommend sell Soyabean
futures during today’s trading session.
Seed Newsvine
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