Ref Soyaoil On NCDEX Settled Down By -0.16% At 726.6

Ref Soyaoil on NCDEX settled down by -0.16% at 726.6 on profit booking after prices gained on demand hope in local mandis. Forecast as well as ongoing heavy rains in Argentina is increasing threat to the soy crop. Soybean prices overlooked the disappointing NOPA crush estimates as well as low weekly export sales. The NOPA crush came in at 160.752 million bushels during November. A year ago, the December crush totalled 157.711 million bushels. Meanwhile oil prices eased as NOPA soy oil stock numbers were lower than market anticipations of 1.352 billion lbs. As of December 31 soy oil stocks rose to 1.434 billion lbs from 1.339 billion at the end of November but still below the 1.481 billion lbs recorded at the end of December 2015.

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