Soyabean On NCDEX Settled Down By -0.88% At 3044

Soyabean on NCDEX settled down by -0.88% at 3044 on soymeal demand worries due to bird-flue and on expectation of bumper output. Soyabeans at the spot markets once again started to decline following weak demand from processors. Arrivals were higher at 350,000 bags as against 150,000-170,000 bags during previous session. As per latest update by SOPA soy meal exports during October- December are estimated at 370,000 tons as against 108,000 tons during corresponding period last season. Meanwhile the good export demand for meal has overshadowed by record production of soybeans this season.

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