Expect Soybean prices to trade higher sideways: Angel
According to Angel Commodities, expect Soybean prices to trade sideways to higher due to lower level buying as the supplies are adequate in physical market.
Angel Commodities report on Soybean
The Soybean Processors Association of India has raised the estimate for soy meal exports in 2016-17 (Oct-Sep) to 1.8 mt from 1.0 mt projected earlier.
We expect Soybean prices to trade sideways to higher due to lower level buying as the supplies are adequate in physical market. The prices of Ref Soy oil and CPO may trade sideways on anticipation of better supplies from domestic crushing this season due to higher oilseeds production. High tariff values and firm CPO prices in Malaysia may support prices.
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