EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 01 AUGUST 2017

Soyabean trading range for the day is 3098-3248. Soyabean dropped on profit booking tracking weakness in spot demand after prices rose on reports of lower sowing compared to last year.The area under the crop fell as some farmers are shifting to more profitable crops such as cotton, as oilseeds fetched poor returns last season. NCDEX accredited warehouses soyabean stocks dropped by 36 tonnes to 26707 tonnes.At the Indore spot market in top producer MP, soybean gained 18 Rupees to 2990 Rupees per 100 kgs.



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