Soyabean on NCDEX settled down by -0.35% at 3174

Soyabean on NCDEX settled down by -0.35% at 3174 on profit booking after prices gained on concerns over excessive rains hitting Argentina's soybean crop. However, an increase of 60 percent in production is estimated in the 2016-17 season compared to previous year in the country owing to normal monsoon and higher acreage, capping some gains in soyabean prices. The United States department of agriculture (USDA) trimmed 2016-17 United States soybean production forecast for January also cut forecast for ending stockpiles compared to previous month, the department said in its World Agriculture Supply and Demand Estimates report.

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