Soybean May Futures Continue Fall This Week

Soybean May futures continue fall this week for the fourth consecutive session on Thursday due to long liquidation on anticipation of lower demand by the market participants at higher levels. The open interest too decline by 4750 tonnes. As per Agmarknet, arrivals of soybean during Apr 1-25 is 2,32,853 tonnes while during in Mar it was about 2,83,644 tonnes during same time frame. As per latest SEA data, Soymeal exports from the country jumped by 137% to 916,306 tonnes in 2016/17 Vs 387,298 tonnes during last financial year 2015/16, however, m/m the exports have declined to 107,059 tonnes in Mar compared to 207,977 tonnes in Feb 2017.

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