Soyabean On NCDEX Settled Down By -0.61% At 3119

Soyabean on NCDEX settled down by -0.61% at 3119 on expectation of higher supply from Brazil, Argentina and on subdued demand in export market. Prices also seen under pressure on oversupply woes after data showed that Brazilian soy bean crop is estimated up year on year at 103.1 million tons up by 7.6 million tons last season. Considering prevailing weather in Brazil and taking into account early sowing, harvest in Brazil is expected to start early this season. In addition to this, nearly 46% of the crop sowing is completed in Argentina, the world's third biggest soybean producer after US and Brazil.

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