Soyabean Prices Settled Flat On Supply

Soyabean prices settled flat on supply worries from Brazil, and weak demand for soymeal in domestic market. However downside seen limited as harvesting pace in Brazil is likely to slow down on forecast of rainfall in some of the major growing regions. Similarly, drier conditions over Southern part of Argentina, the world's third biggest bean producer, is also raising concerns regarding the crops. The United States department of agriculture (USDA) trimmed 2016-17 United States soybean production forecast for January also cut forecast for ending stockpiles compared to previous month, the department said in its World Agriculture Supply and Demand Estimates report. 

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