Angel Commodities report on SoybeanSoybeanSoybean futures closed lower on Friday taking clues from International soybean prices. Moreover, expectation of good production next year due to good monsoon forecast may keep prices steady. Soybean May’16 contract closed lower by 1.31 % to settle at Rs. 3,927 per quintal. Soybean production is expected to be lower at 69.29 lt tha n earlier est imate of 74 lt in kharif season according to SOPA.OutlookWe expect Soybean prices to tra de sideways today on anticipation of muted demand coupled with dwindling in supplies the spot markets across country. However, higher edible oil imports and lower meal export may keep the prices in check.For all commodities report, click hereDisclaimer: 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.
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