Expect Soybean prices to trade sideways: Angel Commodities

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.