Soyabean On NCDEX Settled Down By -0.91% At 3064

Soyabean on NCDEX settled down by -0.91% at 3064 tracking weakness in spot demand amid expectation of bumper crop. Crush margins are also favourable thus demand from processors continued to remain good. Moreover, demand from oil millers and crushing units is likely to be limited at higher rates for soybean as it may eat into the crush margins. Crushers are not able to procure soybean at lower level as farmers are reluctant to sell at lower prices. Soybean arrivals in the country totaled at 250,000 bags against 270,000 bags on previous session. According to Solvent extractors Association (SEA), India's kharif oilseed output during 2016-17 is pegged at 17.8 million tons, up 41% YoY.

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