Soyabean On NCDEX Settled Down -1.05% At 3473

Soyabean on NCDEX settled down -1.05% at 3473 on low demand for soybean meal and expectation of better than expected crop due to increase in sowing area and favorable weather condition. Soyabean weakened further tracking lower international prices as the market was weighed down by prospects of an all-time high US crop. Good weather for crop development during July across broad swaths of the US Midwest, the key growing area for soybeans, allowed crops to mature with relatively little stress.

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