Soyabean on NCDEX settled down -0.28% at 3542

Soyabean on NCDEX settled down -0.28% at 3542 due to higher planting in the sowing season that began in June. Higher monsoon rains keeping soybean fields well irrigated in Madhya Pradesh and Rajasthan. However downside seen limited after United States Department of Agriculture reported robust sales in past week. As per the USDA weekly export sales report, for 2016/17 exports were up by 16% at 718,800 tons on week and around 81% from prior-4 week average. So far the standing soybean crop is in good conditions but it will be too early to project the output at this stage, said an official of Soybean Processors Association of India (SOPA).

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