Soyabean On NCDEX Settled Down By -0.47% At 3159



Soyabean on NCDEX settled down by -0.47% at 3159 tracking weakness in spot demand despite of overseas gains on concerns that floods could crimp output in Argentina. Downside also seen limited on increasing soymeal export prospects and on supply worries from the United States. Arrivals were marginally higher to 415,000 bags. With sharp rise in domestic soy meal prices fresh exports are not seen forthcoming. Further from the fundamental front earlier soybean production estimation by various government and private agencies were around 10 million tons however looking at the arrivals pace and heavy winter in North and central parts of India indicates the arrivals of new supply may be tight.

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