Ref Soyaoil On NCDEX Settled Down

Ref Soyaoil on NCDEX settled down by -1.52% at 723.35 tracking weakness in other oilseed counters despite of supply worries in global market. The US Department of Agriculture said private exporters sold 330,000 tons of US soybeans to China, split between 2016/17 and 2017/18 delivery, and sold another 136,000 tons of soybeans to unknown destinations for 2016/17. Ongoing dry weather in Argentina during sowing period has raised worry about production size indirectly resulting for tight supply for soy oil in coming months.

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