Soybean May Futures Closed Lower On Monday

Soybean May futures closed lower on Monday and continues its decline as supplies have improved last week but demand remains steady at lower levels. The supplies have increased during the last week compared to previous week. As per Agmarknet, arrivals of soybean during Apr 3-8 is 43,753 while during Mar 27- Apr 1 were about 32,514 tonnes Vs 90,767 tonnes during previous week. As per latest SEA data, Soymeal exports from the country jumped by 137% to 916,306 tonnes in 2016/17 Vs 387,298 tonnes during last financial year 2015/16, however, m/m the exports have declined to 107,059 tonnes in Mar compared to 207,977 tonnes in Feb 2017.

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