Soyabean On NCDEX Settled Down

Soyabean on NCDEX settled down -0.33% at 3054 tracked by lower prices in international markets 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. Further, subdued demand in export market too added pressure on soybean prices. However, Argentina's continuous dry weather condition, capped some losses. After facing minor hurdles when arrivals had come to a halt in the wake of the demonetisation move of the government, soybean arrivals have begun picking up and are expected to keep pace for the remaining part of the season. On a financial year basis, the country’s exports during April 2016 to November 2016 were 1,55,874 tonnes as compared to 2,73,433 tonnes in the same period of previous year, showing a decrease of 43%. 

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