Soybean Futures Continue To Close Lower On Wednesday

Soybean futures continue to close lower on Wednesday on good supplies and higher demand at lower prices 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. U.S. soybean futures closed lower Thursday on improving South American crop prospects and jitters about U.S. trade relationships. Soybeans also felt pressure from soyoil futures, which hit a two-month low on uncertainty about the Trump administration’s policy on biofuels, along with declines in rival Malaysian palm oil.

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