Soybean futures contracts ends over 2% down.

Futures contracts of all components of the edible oil basket on domestic exchanges traded lower. After hitting a fresh five-year low, soybean futures on the NCDEX closed 2.2% lower due to higher arrivals and weak demand from solvent plants. Hopes of a rise in soybean acreage across the country this year due to likely good monsoon rains also weighed on sentiment. Weakness in soymeal exports also exerted pressure on prices of the oilseed.