Soybean Futures Continue Its Downtrend On Tuesday



Soybean futures continue its downtrend on Tuesday due to higher production estimate by SOPA and arrivals also picked up in the physical market. The most-active Jan’17 delivery contract closed 0.13% lower to settle at Rs. 2,990 per quintal. There is an expectation that the arrivals of soybean in the domestic market keeping the supplies more than the demand. For India, USDA estimates 2016/17 soybean production 1.8 mt higher this month to 11.5 mt based on reports of better than expected yields. As a consequence, Indian soybean meal exports in 2016/17 could recover to 1.8 mt.

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