Soybean Futures Fall Yesterday



Soybean futures fall yesterday due to expectation of subdued demand for soybean from the oil mills. Moreover, improved edible oil supplies due to record imports and subdued demand from oil mills at higher prices pressurizing the prices. Soybean Jan future contract closed 0.68% higher at Rs. 3,714 per quintal. The prices have tumbled in recent weeks due to sufficient arrivals in the domestic market coupled with lower demand for meal export.

As per the data release by SEA, exports of soybean meal hit a historical low of 55,889 tonnes in the first eight months of current financial year against 2.50 lt logged in the same period last year.

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