Soybean Futures Closed Flat On Wednesday

Soybean futures closed flat on Wednesday after two days of negative trading. There are sufficient supplies in the domestic market and the prices are at base level. The production will be higher this year and the oil millers are purchasing soybean at lower prices so that they can have parity to export soy meal at competitive rates. The Soybean Processors Association of India has raised the estimate for soy meal exports in 2016-17 (OctSep) to 1.8 mt from 1.0 mt projected earlier.

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