Ref soyoil settled flat on dwindling supplies in spot markets and gains in the U.S. market, though moderate demand from oil mills capped the upside. Local fundamentals are mixed. Arrivals are declining, but demand is weak. Oil mills are not getting soymeal exports orders. India's soymeal exports fell 10.32 percent to 451,314 tonnes in December from a month ago. India's vegetable oils (edible & non-edible) imports reported at 944,309 tons during November this year compared to 700,371 tons in the same month last year, consisting of 927,111 tons of edible oils and 17,198 tons on non-edible oils, the latest data from the Solvent Extractors Association of India showed. Edible oil imports surged to 1.05 million tons in December compared to 883,489 tons for the same period year ago, SEA of India said. India vegetable oil imports rose to 1.06 tons for in December compared to 908587 tons for the same period year ago, data showed. Soybean oil imports surged more than double to 53,500 tons in December compared to 21,960 tons a year ago, the data showed.   Stocks of edible oil in ports and pipeline are estimated at 1.59 million tons as on Jan 1 compared to 1.47 million tons ago a month ago and 1.46 million tons a year ago. At the Indore spot market in Madhya Pradesh, soyoil was steady at 692.05 rupees per 10 kgs. Technically market is under long liquidation as market has witnessed drop in open interest by -6.49% to settled at 106770 while prices down -0.5 rupee, now Ref.Soya oil is getting support at 676 and below same could see a test of 674 level, And resistance is now likely to be seen at 681, a move above could see prices testing 684.

Trading Ideas:

Ref.Soya oil trading range for the day is 674-684.

Ref soyoil settled flat on dwindling supplies in spot markets and gains in the U.S. market.

India's soymeal exports fell 10.32 percent to 451,314 tonnes in December from a month ago.

Stocks of edible oil in ports and pipeline are estimated at 1.59 million tons as on Jan 1 compared to 1.47 million tons ago a month ago

At the Indore spot market in Madhya Pradesh, soyoil was steady at 692.05 rupees per 10 kgs.