Soybean futures on the National Commodity and Derivatives Exchange closed around 1% lower, tailing losses in key contracts on the CBOT. USDA has pegged global oilseed output in 2017-18 at 572.1 million tonne, up 6 million tonne from last year. Higher availability of other oilseeds in the world market would reduce the demand for soybean. Weak demand for soymeal from overseas buyers pulled down prices in wholesale markets. Futures contracts of refined soyoil on NCDEX and contracts of refined, bleached and deoderised palmolein and crude palm oil on the Multi Commodity Exchange of India fell due to profit booking as prices had risen in the previous sessions.