Chinese Soybean Imports To Hit Another Record High With A Gain Of 3.4%

China's soybean imports will set a record high for a 14th consecutive season, according to a latest update from US Department of Agriculture (USDA) staff in Beijing. USDA,in its first forecasts for 2017-18, pegged Chinese soybean imports, by far the world's biggest, at 89m tonnes, up 3m tonnes or 3.40% year on year on its estimates. That would extend a spell of unbroken annual increases in Chinese purchases going back to 2004-05.

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                       Trading Ideas

*Soyabean trading range for the day is 2870-2962.

*oyabean prices ended with gains on account of lower supplies at the spot market.

*Soybean exports during Oct-Feb were estimated at 112,000 tonnes, compared with 80,186 tonnes in the year-ago period, as per SOPA data.

*NCDEX accredited warehouses soyabean stocks dropped by 2694 tonnes to 199277 tonnes.

*At the Indore spot market in top producer MP, soybean gained 2 Rupees to 3034 Rupees per 100 kgs.