Soybean Futures To Fall


Soybean futures to fall on Wednesday on improved supplies and subdued demand from the oil mills. Soybean Jan future contract closed 0.34% down at Rs. 3,807 per quintal. The prices have tumbled in recent weeks due to sufficient arrivals in the domestic market. Moreover, lower demand for meal export and subdued buying support by the oil mills also pressurizing the local soybean prices.

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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