Soybean may trade upward on less monsoon forecast according to IMD

According to IMD, as of 28 July, monsoon rains in India were 3% below normal. It said rains in July and August could be less than normal. Kharif sowing progress - area of 14.30 million hectares were covered by oil seeds as of 24 July including 10.48 million hectares of Soybean crop. Soybean may consolidate sideways with a bullish bias.

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