Soybean prices continued to trade down in futures as well as in spot markets as supplies outpacing demand. The spot prices have dropped below the Minimum Support Price (MSP) in Madhya Pradesh, Maharashtra and Gujarat. As per Solvent Extractor Association’s recent survey soybean production in 2016/17 forecasted at 10.9 million tons, up 58% from last year.
Information source: www.skymetweather.com
