Soyabean On NCDEX Settled Down -1.53% At 2956

Soyabean on NCDEX settled down -1.53% at 2956 on ample supply in the domestic spot market. Further, lower soyabean prices in the international markets also influenced soyabean prices. Government of India in its second Advance Estimates of production of major crops for 2016-17 said that with an increase of 8.35 million ton over the previous year, total oilseeds production in the country is estimated at record level of 33.60 million tonnes. It also said that, the output is higher by 850,000 tons than the previous record production of 32.75 million tons achieved during 2013-14. 

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