NCDEX SOYABEAN, OPEN INTEREST UP 11.47%

• Soyabean settled down by -1.08% at 3490 due to profit booking after prices seen supported on supply worries following untimely monsoon rains in India and on robust demand in export market. Prices of the bean will also be supported on fear of weak supply following reports of dry weather in Brazil, the second biggest grower of the bean.
• Soyabean trading range for the day is 3434-3572.
• Soyabean prices dropped due to profit booking after prices seen supported on supply worries following untimely monsoon rains in India.
• Global soybean production is projected at a record 312.8 million tons with gains this month for Canada, Ukraine, and Paraguay.
• At the Indore spot market in top producer MP, soybean gained  6 rupee to 3469 rupee per 100 kgs.