Soyabean On NCDEX Settled Down By -0.9% At 2861

Soyabean on NCDEX settled down by -0.9% at 2861 tracking weakness in spot demand and overseas prices on expectations for increased plantings in North America, along with already ample global supplies. However downside seen limited amid the meal exports coupled with slower arrivlas. According to SEA, India's soymeal exports are likely to be around 200,000 tonnes in March, higher than last March's record low of 430 tonnes due to good demand from European and Asian countries. The supplies have been decreased drastically this week compared to previous week. As per data, arrivals of soybean during 27-29 Mar were about 50,611tonnes Vs 50,611 tonnes during previous week. The US Department of Agriculture's Beijing arm has maintained its forecast for soybean imports by China at record 89 mln tn in 2017-18 (May-Apr) due to rising demand in domestic markets.

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