Soyabean On NCDEX Settled Down By -1.86% At 3802

Soyabean on NCDEX settled down by -1.86% at 3802 on steady physical demand as monsoon rains hit the soybean sowing regions of MP and Maharashtra. Further, reports of falling meal exports and rising cheap soyoil imports too added pressure on prices. India's soybean output in crop year 2015-16 (July-June) may slump to 11-year low as two years of drought resulting in crop damage and a fall in yield. Soybean output during 2015-16 slipped 27% to 7.5 million tons compared to 10.4 million tons in the previous year, the report said. Setback in monsoon led to delay in sowing in some parts of Rajasthan, Madhya Pradesh and Maharashtra.

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