Ways2Capital - Soybean Futures Closed Lower

Soybean futures closed lower on Thursday due to reports that the supplies will adequate in coming months. The production is expected to be higher this year and the oil millers are active at lower prices.

Soybean in spot market gets some boost from increase in meal exports. The Soybean Processors Association of India has raised the estimate for soy meal exports in 2016-17 (Oct-Sep) to 1.8 mt from 1.0 mt projected earlier. U.S. soybean futures fell on Thursday, pressured by the expectation of record-large crop in Brazil and profit-taking after a two-session climb. 

Prices remained under pressure due to rising estimates of Brazil's soybean harvest as Informa Economics raised its forecast of Brazil's crop to a record-high 108 mt, up 2 mt from its previous estimate.

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