Soyabean on NCDEX settled down -1.62% at 3827 on supply hope in global market and on weak demand for Indian soymeal in export market. Continuous progress in US soybean plantation and subdued export demand kept bean prices under check. Content This No. 9827808090.

The United States Department of Agriculture (USDA) in its crop progress report said around 92% planting is completed compared to 85% last year and 87% of prior 5 years average.For the same duration, around 79% of the soybean crops have emerged in comparison to 72% last year. 

The soybean crop conditions is 74% good to excellent compared to 72% last year. India's soybean oilmeal exports slumped 92.77% to 1,015 tons in June compared to 14,046 tons for the corresponding period a year earlier, data released from Solvent Extractors Association of India (SEA) showed. 

  The United States                    department of agriculture  (USDA) trimmed 2015-16 United States soybean production forecast for June and also cut its forecast for ending stockpiles, the department said in its World Agriculture Supply and Demand Estimates report.

The USDA maintained US, the world's biggest bean grower, production estimates to 103.4 million tons in June compared to 106.9 in previous month and a year ago. USDA also trimmed its forecast for 2015-16 US soybean ending stockpiles to 260 million bushels in June compared to 445 million bushels in the previous month and 370 million bushels a year ago.