NCDEX Soybean October Futures Close Higher

NCDEX Soybean October futures close higher last week on reports of less planting and deficient monsoon rains in the soybean producing areas. As per government data, the area coverage under soybean, as on 11th August, is reported down 9.22% at 101.59 lakh hectares compared to 111.91 lakh hectares at the same period last year. According to a release issued by Soybean Processors Association of India (SOPA), export of soybean meal and its other value added products during July 2017 has been pegged at 0.98 lt compared to 0.29 lt in July 2016.

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