EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 01 JANUARY 2016

Soyabean futures closed higher yesterday due to lower level buying by the market participants. Soybean Jan future contract closed 0.89% higher at Rs. 3,729 per quintal. However, expectation of improved arrivals and higher edible oil supplies due to record imports and subdued demand from oil mills at higher prices may pressurize the prices.

As per the data release by SEA, exports of soybean meal hit a historical low of 55,889 tonnes in the first eight months of current financial year against 2.50 lt logged in the same period last year.

We expect Soybean prices to trade sideways to lower on expectation of sufficient arrivals, lower meal export and lower demand of oilseed by oil mills at higher prices. However, expectation of demand for the soyoil by traders and stockists may support prices.

For more information ✆ - 0731-6642300 on NCDEX Tips or Visit http://www.epicresearch.co