CAPITALSTARS THRUSDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE 20 JUNE 2019

NCDEX Jul Soybean slipped more than 1.2% on Wednesday due to expectation of higher planting

 CAPITALSTARS INVESTMENT ADVISOR

As per SEA, country export only export 40,000 tonnes of soy meal in May down 41.4% y/y. Moreover, for Apr-May period, India shipped out about 58,470 tonnes of soybean meal down 59% compared to last year. Soybean arrivals for the Oct-May period pegged at 84.75 lt, up by 19.4% on year as per SPOA report. Until April, country crushed about 67.8 lt of soybean compared to 60.5 lt last year. In the 3rd advance estimates, government increased production forecast of soybean to 137.43 lt (Vs 109.33 last year).

CBOT Soybean edged lower on Wednesday due to profit booking from three-month high but fall was limited on forecasts for wet conditions in the U.S. Midwest which will further slow planting progress.

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