EPIC RESEARCH NCDEX UPDATE OF SOYABEAN 02 November 2016

Soyabean trading range for the day is 3119-3225. Soyabean prices dropped on profit booking after prices gained due to higher demand for the new season soybean crop. The estimate is for India’s 2016-17 soybean production to be an all-time high of 14.22 million tonnes, 66 per cent more than last year. NCDEX accredited warehouses soyabean stocks gained by 5521 tonnes to 19578 tonnes. At the Indore spot market in top producer MP, soybean gained 1 rupee to 3074 rupee per 100 kgs.