EPIC RESEARCH NCDEX UPDATE OF SOYABEAN 28 AUGUST 2018

• Soyabean trading range for the day is 3109-3307.
  
• Soyabean dropped due to forecast of beneficial rains in central India which will enhance soybean production.
• Further, bearish overseas trend amid expectations of a record US production too weighing on soybean prices.
• The Indian government has increased the MSP of soybean by 11 percent to Rs 3,399 per quintal for the 2018-19 season and this led to an increase in sown area.
• At the Indore spot market in top producer MP, soybean dropped -71 Rupees to 3302 Rupees per 100 kgs.

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