Soybean Futures Closed Lower

Soybean futures closed lower on expectation of higher yield and lower demand from the market participants. Moreover, data from SOPA for lower soy meal export also weigh on prices. The most-active Oct’16 delivery contract closed 1.66% down to settle at Rs. 3,267 per quintal. However, reports of wet weather and increase in tariff value of soyoil support soybean prices in physical market.. Above normal rains in the parts of MP caused flooding but it may have little effect on the standing crop of soybean.

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