EPIC RESEARCH NCDEX UPDATE OF SOYABEAN 3 OCTOBER 2018

• Soyabean trading range for the day is 3129-3287.
  
• Soyabean prices dropped tracking weakness in spot demand and forecast of bumper soybean crop due to good rains in soybean growing areas.
• The poll bound Madhya Pradesh government announced to give Rs 500 per quintal on soybean over and above the MSP.
• As per 1st advance estimate 2018/19, soybean production is forecast about 22.5% higher at 134.6 lakh tonnes on year.
• At the Indore spot market in top producer MP, soybean dropped  -148 Rupees to 3145 Rupees per 100 kgs.

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