Moneycontrol
Oct 11, 2017 11:23 AM IST | Source: Moneycontrol.com

Soybean prices to trade sideways Angel Commodities

According to Angel Commodities,Soybean futures are expected to trade on sideways as new season arrivals may keep pressure on prices.

Soybean prices to trade sideways Angel Commodities

Angel Commodities' commodity report on Soybean


NCDEX Soybean Nov futures continue to trade lower on reports of lower meal exports in September coupled with sufficient arrivals from new season crop. India's soymeal exports during September were at 9,650 tn, down 21% from a year ago. While with huge carryover stocks also pressurize prices.  Moreover, extend in the limits on stocks of oilseeds and edible oils with traders and mills till September 30, 2018 also bearish for the oilseeds. In a press release, has estimated 2017 - 18 (Oct - Sep) soybean output at 9.15 mt, down from 11.49 mt a year ago

Outlook
Soybean futures are expected to trade on sideways as new season arrivals may keep pressure on prices. However, on reports that government is expected to step in for procurement of soybean in Maharashtra and Rajasthan to help farmers.  Lower acreage in the country and improved prices of edible oil may support prices.

For all commodities report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

X
Sections
Follow us on
Available On