Soyabean On NCDEX Settled Down By -0.69% At 3026

Soyabean on NCDEX settled down by -0.69% at 3026 as pressure seen amid improving supplies in the domestic market. India's 2016-17 soybean output is expected to rise by 64.14% to 11.4 million tons on favourable weather condition, Soybean Processors Association of India (SOPA), said in a press release on Friday late evening. In 2015-16 Indian farmers had produced 7 million tons to the yellow bean. Total availability of the bean in 2016 is expected to remain at 11.932 million tons including the carry over stock of 441,000 tons from the previous year, the press release said. The industry expects soybean meal production at 1.278 million tons in 2016-17 on higher soybean output

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