SOPA says India Oct-Jun soybean arrivals up 35% on year on bumper crop.

Supply of soybean seeds across the country rose to 6.9 million tonne during Oct-Jun from 5.1 million tonne in the year-ago period due to a bumper crop in 2016-17 (Jul-Jun). As of June-end, soybean inventories with farmers were at 3.6 million tonne, over three times the amount a year ago. In June, arrivals of the oilseed were at 400,000 tonne, lower than 425,000 tonne in the corresponding period last year, while 550,000 tonne of the commodity was crushed, higher than 450,000 tonne a year ago. Stocks with traders and plant owners were at 109,000 tonne, down from 257,000 tonne a year ago. Higher exports of soymeal, a derivative of soybean, resulted in lower stocks with traders. For Oct-Jun, soymeal exports were pegged at 1.5 million tonne, way higher than nearly 300,000 tonne exported a year ago, the data showed. In June, exports were at 64,000 tonne, sharply higher than 18,000 tonne a year ago.