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Indian Soy mkts may follow international mkts: AngelIndian Soy mkts may follow international mkts: Angel
Angel Commodities has come out with its monthly Soybean update report. According to the research firm, the Indian Soy markets is expected to follow the international markets.
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Angel Commodities: Soybean monthly update
Although the soybean price trend in the domestic and global markets have remained largely divergent since the beginning of the season in October 2013, going forward we expect the Indian Soy markets to follow the international markets. Supplies in the domestic markets have dwindled significantly while exports have remained subdued. However, recovery in the international markets and rising concerns over South American soy crop may encourage soy meal exports from the India in the months to come. Upward trend shall continue during the rest of February and early march. Thereafter, prices will take cues from prevailing weather conditions in Argentina and Brazil. If weather turns conducive in the coming weeks, harvest shall commence in full pace in these nations and will then exert downside pressure on the prices. On contrary, if erratic weather conditions persist, then prices will continue to trade higher and a spillover effect of the same could be seen on the domestic soybean prices.
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