Soybean Futures And Spot Prices Closed Higher

Soybean futures and spot prices closed higher on Monday on reports of lower acreage and heavy rains in soybean producing areas of MP, which may damage crop. However, falling meal exports and rising cheap soyoil oil imports have affected soybean prices in recent months. Soybean Oct’16 contract closed 0.59% higher to settle at Rs. 3,764 per quintal. There are reports of lesser sowing area but may not affect the yield in Madhya Pradesh.

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