NCDEX soybean futures traded higher on Friday on improved domestic demand at against the shrinking supplies at key trading centers.
Meanwhile, the Solvent Extractors Association of India has released its monthly data on meal export from India
showed fall in oil meal export during marketing year 2018-19 on yearly basis. The overall export of oil meals
during the year Apr-May 2019 reported at 313134 tons compared to 487995 tons during the same period of last
year lower by 36% y/y. The export of Oilmeal during month of May was reported at 58549 tons compared to
263644 tons in May 2018, down by 78%. Soy meal export during month of May was reported at 18470 tons
compare to 40829 tons of prior month.
Soybean is expected to trade mixed to higher on account of speculative buying supported by slower progress on
monsoon rainfall.
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