Soybean futures hit two-month high on rising Chinese Demand

Soybean futures continued to rise on Wednesday in the domestic market and hit its strongest level in two month on NCDEX on the back of optimism that demand would increase in China, the world’s largest buyer, amid supply threat from Argentina due to dry weather condition. 

At NCDEX, soybean futures for February contract traded at Rs. 3400 per quintal, up by 0.04 per cent, after opening at Rs. 3410 against the previous closing of Rs. 3398.50.

It touched the intra-day high of Rs. 3430, highest level since December 19, 2012, till the trading. [Via]

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