EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 22 MAY 2017

Soyabean trading range for the day is 2776-2884. Soyabean prices gains tracking firmness in spot demand on short covering on supply worries and demand worries for Indian soymeal. Global soybean production also projected to decline to 345 million tons from the current year's record level of 348 million tons. NCDEX accredited warehouses soyabean stocks dropped by 1315 tonnes to 120836 tonnes.At the Indore spot market in top producer MP, soybean dropped -31 Rupees to 2986 Rupees per 100 kgs.

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