Ref Soya Oil On NCDEX Settled Down -0.1% At 666

Ref Soya oil on NCDEX settled down -0.1% at 666 tracking weakness in spot demand amid profit booking. The National Oilseed Processors Association said that inventories of the oil had dropped sharply last month, to a smaller than expected 1.376 billion pounds from August 1.62 billion. The demand is strong from oil millers and crushing units amid recovery in crush margins at prevailing prices of soybean at physical markets. Moreover, a delegation of soybean importers from China signed agreements to buy 5.1 million ton of US soybeans valued at $2.1 billion at a ceremony in Des Moines, Iowa, as per the US Soybean Export Council.

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