EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 24 Oct 2016

Soybean futures traded sideways to higher on lower level buying by the stockists and solvent extractor for new season crop. The mostactive Nov’16 delivery contract closed 0.39% higher for the week to settle at Rs. 3,125 per quintal. The harvesting of soybean in full swing and supplies are strong in the physical market. As per SEA recent survey soybean production in 2016-17 (Jul-Jun) forecasted at 10.9 mt, up 58% from the last year.


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