Soybean May Futures Continue Its Downtrend This Week

Soybean May futures continue its downtrend this week and closed 1.4% down on Tuesday as market participants liquidate their buying positions on anticipation of ample available stocks in the country.

As per Agmarknet, arrivals of soybean during Apr 2017 is 2.82 lakh tonnes, higher by 20% compared to last year same month.

Moreover, The stocks of soybean in NCDEX warehouse as on 1st May 2017 is about 1.21 lakh tonnes against the 55, 133 tonnes last year. This indicates that there are ample supplies available in the physical market.

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