Futures contracts of soybean rose 0.9% on NCDEX today due to lower acreage under the crop in 2017-18 (Jul-Jun).According to the farm ministry, the area covered under soybean as on Jul 20 was at 8.46 mln ha, down by 18% from a year ago. The fall in acreage is mainly due to lower prices in domestic markets and uneven distribution of southwest monsoon rains. Futures contracts of soybean also rose on NCDEX tracking gains on CBOT.
Source: Newswire
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