NCDEX Soybean October Futures Closed Lower

NCDEX Soybean October futures closed lower on Wednesday tracking weak physical demand from the industrial buyers. Moreover, higher stock levels in the country also pressurizing prices. As per government data, soybean planting fell 10.4% to 99 lakh hectares compared with the same period last year. Last year, the acreage was 110 lakh hectares. According to a release issued by Soybean Processors Association of India (SOPA) on Tuesday, 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 showing an increase of 235 % over the same period of last year,

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