Soybean Futures Closed Higher Yesterday

Soybean futures closed higher yesterday due to lower level buying by the market participants. Soybean Jan future contract closed 0.89% higher at Rs. 3,729 per quintal. However, expectation of improved arrivals and higher edible oil supplies due to record imports and subdued demand from oil mills at higher prices may pressurize the 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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