Futures contracts of soybean fell on the CBOT, after the USDA raised its estimate for US soybean ending stocks for 2017-18 to 12.12 million metric tonne from its earlier estimate of 11.57 million metric tonne. Prices also fell due to a forecast of favourable weather conditions in Brazil and Argentina. The most-active January contract of soybean on the CBOT hit near one-month low of $9.74 per bushel. The January contract was at $9.7450 per bushel, down 0.5% from the previous close.
Soybean prices unchanged in Indore but seen rising.
Soybean prices were unchanged in the key wholesale market of Indore but are likely to rise in the coming days as supplies are falling.
Jaipur mustard tad down on sluggish demand for meal.
Prices of mustard seed were slightly down in Jaipur because of sluggish demand for the oilmeal from the cattle feed industry. The most active January futures on the NCDEX were down 0.3%.