Soybean Futures Closed Down

Soybean futures closed down on Friday, as demand for crushing is limited coupled with dwindling in the spot markets. Soybean Jun’16 contract closed 0.25% down to settle at Rs. 3,940/quintal. Lately soybean prices have been under pressure due to lower exports of soy meal and good monsoon. USDA forecasts India soybean production for 2016/17 at 11.70 mt, up 58% from last year.

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