Ref Soyaoil On NCDEX Settled Down By -0.52% At 636.35

Ref Soyaoil on NCDEX settled down by -0.52% at 636.35 tracking weakness in spot demand on oversupply woes. According to United States Department of Agriculture (USDA) August estimates, U.S 2016/17 soy oil end stocks fell by 8.1 percent m-o-m to 1,755 million lbs from 1,910 million lbs in July estimate. Opening stocks are reduced to 1,950 million lbs from 2,375 million lbs in July estimate. Production of soy oil in 2016/17 is increased to 22,405 million lbs v/s 22,235 million lbs in July estimate. According to National Oilseed Processors Association (NOPA), U.S.

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