Ref Soyaoil On NCDEX Settled Down By -1.18% At 684.8

Ref Soyaoil on NCDEX settled down by -1.18% at 684.8 tracking weakness in spot demand on higher supply. Moreover, expectation of higher output during the current rabi season were also dragged the prices. Last week, the Solvent Extractors' Association of India (SEA) has raised its estimate for soybean output to 11 million tons in 2016-17 (Jul-Jun) from its previous forecast of 10.6 million tonnes. USDA Feb estimate kept the ending stock of US tad higher at 760,000 tons compared to 750,000 tons.

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