Soyabean yesterday we have seen that market has moved -1.16% as expectations of higher production in the major producing areas weighed on prices. During past few days some positive movement is seen in international market due to revival in demand. In US soybean sowing has started, and farmers have sown nearly 2% of estimated area as against 22% during same period last year. As per the data released by SEA of India, the export of oilmeals during April 2013 is heavily reduced to 199,168 tons compared to 403,090 tons in April 2012 i. e. down by 51% mainly due to disparity in crushing and high prices of soybean resulted into less availability for the export. India's soymeal exports in April fell 67 % to 99,451 tons month-on-month basis. Expectations on normal monsoon are putting pressure on market sentiments. In United States soybean sowing has been started. Farmers have sown nearly 2% of estimated area as against 22% during same period of last year. Soybean production in Argentina and Brazil is kept unchanged at 515 and 835 lakh tons respectively, according to the data released by the United States Department of Agriculture (USDA). At the Indore spot market in top producer MP, soybean dropped -18 Rs to 4021Re per 100 kgs. Market has opened at 3924 & made a low of 3836 versus the day high of
3947.5. The total volume for the day was at 74590 lots and the open interest was at 87090. Support for soyabean is at 3819 below that could see a test of 3772. Resistance is now seen at 3930 above that could see a resistance of 3995.

Trading Ideas:

Soybean trading range for the day is 3772-3994.

Soyabean ended with losses as expectations of higher production in the major producing areas weighed on prices.

ring past few days some positive movement is seen in international market due to revival in demand.

NCDEX accredited warehouses soyabean stocks gained by 514 tonnes to 11647 tonnes.

At the Indore spot market in top producer MP, soybean dropped -18 Rs to 4021Re 100 kgs.