MUMBAI (Commodity Online): Soy product futures closed higher Wednesday, rallying in unison with soybean futures. Soyoil futures rallied, with strength in Crude Oil futures lending support to the market’s higher theme.

Soymeal futures followed soybeans higher, climbing to two-week highs as the market continued its correction from oversold conditions, analysts said.

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May Soymeal ended $5.90, or 2.26%, higher at $267.40 per short ton, while May soyoil settled 46 points, or 1.17%, higher at 39.83.

Courtesy: CBE Group

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