MUMBAI (Commodity Online): Soybean futures fell Friday due to rising supply in the physical markets on the back of fresh arrivals from the producing areas.
Poor demand from the domestic as well as overseas buyers also put pressure on the soybean futures.
At NCDEX soybean November is trading at Rs.2212.50 per 10 MT, a decline of 1.68 per cent on 15:05 IST as against the previous close.
In the early session the contract traded at a range of Rs.2207.50-2259.50 per quintal. Open interest of the contract is 131660 lots and volume traded is 53560 lots for the time being.
As per USDA’s weekly export inspections came in at 41.15 million bushels which was in line with trade expectations and compares with an average of 27.8 million necessary each week to reach the USDA projection.
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