Soybeans in India Get ‘Rebirth’ With Return of Monsoon Rains
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Rains returned to India’s main soybean- growing areas, ending a three-week long dry spell that threatened to shrivel the nation’s biggest oilseed crop. Futures in Mumbai tumbled to the lowest since March.
Some soybean fields in Madhya Pradesh, which produces more than 50 percent of the nation’s crop, got more than 100 millimeters (3.9 inches) of rain over the weekend, according to the India Meteorological Department. The showers were timely for the crop as it eased the moisture stress, said Davish Jain, chairman of the Soybean Processors Association of India, said by phone from Indore on Monday.