Soyabean On NCDEX Settled Down -1.57% At 3573

Soyabean on NCDEX settled down -1.57% at 3573 followed by higher planting of the summer-sown oilseed. Further, reports of lower soymeal export data too added pressure on prices. However, falling arrivals in domestic markets, and strong global cues following fresh signs of demand for US crops, capped some losses. Data published by the Soybean Processors Association of India (SOPA) showed exports of soybean meal in July slipped by 60% to 12,272 tons compared to 30,688 tons in the same period a year ago. According to data compiled by Soybean Processors Association of India (SOPA), on a financial year basis, the export during April 2016 to July 2016 stood at 52,906 tons as compared to 1,36,897 tons in the same period of previous year showing a decrease of 61%.

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