Soybean Futures Continue To Close Lower On Tuesday

Soybean futures continue to close lower on Tuesday on good supplies in the domestic market. The supplies in the physical market is continue to improve as production during kharif is higher by more than 57% this season. The bulk buyers and oil millers are quite active at lower levels only keeping pressure on prices this season. U.S. soybean prices closed little higher for the first time in three sessions on Tuesday but easing fears over potential crop losses in Argentina limit gains. In coming weeks, Soybean prices may be pressured by forecasts of better crop weather in Argentina following floods this month that threatened crops. Argentina is the world's largest soymeal exporter and No. 3 exporter of soybeans.

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