Soybean Futures Closed Higher On Thursday

Soybean futures closed higher on Thursday on lower level buying by the stockists and solvent extractor for new season crop from MP, Rajasthan and Maharashtra. The most-active Nov’16 delivery contract closed 0.58% higher to settle at Rs. 3,137 per quintal. The harvesting of soybean are in full swing and supplies are strong in the physical market. As per SEA recent survey soybean production in 2016-17 (JulJun) forecasted at 10.9 mt, up 58% from the last year.

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