Soyabean settled up 0.31% at 4268 on improved demand in the physical market against tight supplies from the major producing belts. However, fall in International prices and improved Monsoon progress report by IMD, capped some gains. There is no overseas demand for soymeal due to which buying interest from oil crushers is also subdued. India's soymeal exports in May sank 91.5 percent from a year earlier to their lowest in 20 months as higher soymeal prices prompted buyers to turn to competitor South America. India FY 2013-14 soymeal exports in fell 20% to 2.7 million tons compared to 3.4 tons for the same period a year ago, data from the Solvent Extractors of Association (SEA) of India showed. Soybean oilmeal exports plunged 92% to 8,226 tons in May compared to 96,492 tons in May 2013, data from the Solvent Extractors Association (SEA) of India showed. Farmers in US completed 78% of soybean planting compared to 59% sowing a week ago and 55% planting for the same period a year earlier, the US Department of Agriculture (USDA) said in its crop progress report. Arrivals of soyabean in Maharashtra state dropped by -3000 bags of 100kg each to 15000 bags of 100kg each. Arrivals of soyabean in Rajasthan state gained by 4000 bags of 100kg each to 12000 bags of 100kg each. At the Indore spot market in top producer MP, soybean gained  29 rupee to 4312 rupee per 100 kgs. Technically market is under fresh buying as market has witnessed gain in open interest by 3.89% to settled at 107310, now Soyabean is getting support at 4225 and below same could see a test of 4193 level, And resistance is now likely to be seen at 4298, a move above could see prices testing 4339.

Trading Ideas:

Soyabean trading range for the day is 4196-4342.

Soyabean ended with gains on improved demand in the physical market against tight supplies from the major producing belts.

However, fall in International prices and improved Monsoon progress report by IMD, capped some gains.

NCDEX accredited warehouses soyabean stocks dropped by 198 tonnes to 12183 tonnes.

At the Indore spot market in top producer MP, soybean gained  29 rupee to 4312 rupee per 100 kgs.