India Soybean settles 1% lower tracking weakness in CBOT.

Futures contracts of most of the components of the edible oil basket, barring crude palm oil, fell on the domestic exchanges tailing losses in international markets. Prices on the international exchange fell due to likely rise in yields of soybean in the US. Increased arrivals of the new crop in the domestic market amid favourable weather also pushed prices down. Taking cues from soybean, refined soyoil on the NCDEX fell because of subdued purchases in the wholesale markets amid huge availability following higher imports.