Soyabean On NCDEX Settled Down By -0.69% At 2880

Soyabean on NCDEX settled down by -0.69% at 2880 due to weak demand against ample supplies in the domestic markets. Further, lower soyabean prices in international markets with expectations of silo-bursting Brazilian supplies too added pressure on domestic prices. Though, increase in exports of soybean meal capped some losses. The reports from SOPA stated that, soymeal exports rose over sevenfold to 207,977 tonnes in February 2017, compared to 29,951 tonnes in February 2016 showing 7-fould increase in exports. US soybean crushers crushed higher than the market expectations in January, third highest January crush on record, said National Oilseed Processors Association.

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