Soyabean On NCDEX Settled Up By 0.45% At 2908

Soyabean on NCDEX settled up by 0.45% at 2908 supported by high prices in international market, even though expectations for large South American soy harvests capped some gains. Agriculture department in second advance estimates pegged 2016-17 soybean crops at 14.125 million tons as compared to 8.570 million tons reported in the previous year. US soybean crushers crushed higher than the market expectations in January, third highest January crush on record, said National Oilseed Processors Association. NOPA reported that its members have processed 160.621 million bushels during January, up from 150.453 million bushels during the corresponding period last year and also up from 160.176 million bushels in December 2016.

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