Soyabean On NCDEX Settled Flat

Soyabean on NCDEX settled flat amid improving arrivals in the physical market and expectations that the peak arrivals will be observed during the month of December. In its revised crop projection for kharif 2016, the Soyabean Processors Association of India (SOPA) has put India’s soyabean crop at 114.9 lakh tonnes (lt) — about 5 per cent higher than the initial crop estimate of 108.8 lt. The increase in output is attributed to lower damage and better yield mainly in Madhya Pradesh and Maharashtra. The sowing area is recorded at 109.7 lakh hectares with over 90 per cent of the area falling in Madhya Pradesh, Maharashtra and Rajasthan.

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