Ref soyoil dropped taking cues from global prices after the USDA surprised the market with projections for bigger supplies and record output.
India Soybean oilmeal exports dropped 92% to 8,226 tons in May compared to 96,492 tons in May 2013.
United States soybean sowing hit record of 84.8 million acres, up 11% on year, data release by the US Department of Agriculture showed.
At the Indore spot market in Madhya Pradesh, soyoil was steady at 702.9 rupees per 10 kgs.
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