Soybean Futures Closed Flat and traded

Soybean futures closed flat and traded on narrow range on Thursday mainly as market participants are expecting new season arrivals. The most-active Oct’16 delivery contract closed 0.09% higher to settle at Rs. 3,206 per quintal. Dry weather forecasted in the soybean growing areas of Rajasthan, Maharashtra and Madhya Pradesh, which will aid the harvesting. Earlier, reduction in the import duty of refine and crude edible oil in the country keeping soybean prices range bound.

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