EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 28 FEBRUARY 2018
Soyabean trading range for the day is 3669-3787. Soyabean prices dropped on late profit booking after seen supported on improved demand from the oil mills and diminishing physical supplies. India’s soybean output in the 2017 -18 season is likely to decline by 24 per cent to 8.35 MMT compared to previous year’s estimates of 10.9 MMT. NCDEX accredited warehouses soyabean stocks dropped by 1684 tonnes to 179380 tonnes. At the Indore spot market in top producer MP, soybean gained 34 Rupees to 3800 Rupees per 100 kgs.