Soybean| Soybean traded higher in the spot as well

Soybean traded higher in the spot as well as in futures market on reports of lower acreage and heavy rains in growing districts which may damage the crop. As on 1st July, Soybean sowing was recorded at 18.9 lakh ha down by 48.9% from a year ago. Soybean sowing progress in Madhya Pradesh, Maharashtra and Rajasthan is down by 42%, 76% and 59% respectively compared to last year.