EPIC RESEARCH NCDEX SOYAEBAN UPDATE OF 24 MAY 2017

Soyabean trading range for the day is 2745-2845. Soyabean prices dropped due to reports of higher stocks of soybean with farmers and traders. Soyabean prices also dropped by lower demand in spot markets as 60 percent of soybean mills in MP reported to have shut down. NCDEX accredited warehouses soyabean stocks dropped by 772 tonnes to 115985 tonnes. At the Indore spot market in top producer MP, soybean dropped -32 Rupees to 2984 Rupees per 100 kgs.

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