EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 24 JANUARY 2017

Soyabean trading range for the day is 3068-3148. Soyabean prices dropped on the expectation of higher supply in the global market. US farmers are expected to plant 90.5 million acres of soybeans this spring, topping the record high set last year. NCDEX accredited warehouses soyabean stocks gained by 2599 tonnes to 166650 tonnes. At the Indore spot market in top producer MP, soybean dropped -36 rupees to 3081 rupees per 100 kgs.

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