Soybean Futures Closed Lower On Tuesday

Soybean futures closed lower on Tuesday due to expectation of new season crop hitting the physical market. However, wet weather during second part of September may have affected early harvest of soybean crops. The most-active Oct’16 delivery contract closed 1.14% down to settle at Rs. 3,207 per quintal. The forecast of dry weather in the soybean growing areas of Rajasthan, Maharashtra and Madhya Pradesh, which will aid the harvesting in coming weeks.

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