EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 09 MAY 2017

Soyabean trading range for the day is 2908-3012.Soyabean prices dropped on profit booking after prices gained on lower arrivals in local mandis.Soybean acreages in Madhya Pradesh, is expected to fall as poor remuneration may prompt farmers to switch to other cash crops.NCDEX accredited warehouses soyabean stocks dropped by 7640 tonnes to 137996 tonnes.At the Indore spot market in top producer MP, soybean gained 23 Rupees to 3072 Rupees per 100 kgs.

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