Soybean Futures Continue Its Downtrend On Tuesday

Soybean futures continue its downtrend on Tuesday due to supply pressure from new season crop and profit booking by the market participants. The most-active Nov’16 delivery contract closed 0.64% down to settle at Rs. 3,102 per quintal. The harvesting of soybean in full swing and supplies are strong in the physical market. As per SEA recent survey soybean production in 2016-17 (Jul-Jun) forecasted at 10.9 mt, up 58% from the last year.

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