EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 18 MAY 2017

Soyabean trading range for the day is 2800-2886.Soyabean prices ended with gains on short covering tracking firmness in spot demand after prices dropped on account of lower demand.Around 60% soybean solvent extraction plants in Madhya Pradesh have shut their operations about two months earlier than expected.NCDEX accredited warehouses soyabean stocks dropped by 2555 tonnes to 124719 tonnes.At the Indore spot market in top producer MP, soybean gained 11 Rupees to 3007 Rupees per 100 kgs.

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