Soyabean settled down -0.3% at 3835 due to weak demand from crushers and expectation of higher output from the major producing belts. Reports suggest that the South American production is lower than the previous estimates. Recently, Oil World estimated some cut in South American production due to adverse weather which may support the overseas markets and give way to fresh gain. Arrivals of soyabean in Madhya Pradesh state gained by 40000 bags of 100kg each to 100000 bags of 100kg each. Arrivals of soyabean in Maharashtra state dropped by 10000 bags of 100kg each to 90000 bags of 100kg each. Arrivals of soyabean in Rajasthan state gained by 5000 bags of 100kg each to 30000 bags of 100kg each. India soymeal exports plunged 41% in the first month of the New Year to 364,000 tons as compared to 620,000 tons for the same period year ago, filling from the Soybean Processors Association (SOPA) of India showed. India soymeal exports in January fell to 364,000 tons as compared to 620,000 tons for the same period year ago, filling from the Soybean Processors Association (SOPA) of India showed. At the Indore spot market in top producer MP, soybean dropped -28 rupee to 3998 rupee per 100 kgs. Technically market is under fresh selling as market has witnessed gain in open interest by 3.28% to settled at 116630 while prices down -11.5 rupee, now Soyabean is getting support at 3817 and below same could see a test of 3799 level, And resistance is now likely to be seen at 3856, a move above could see prices testing 3877.

Trading Ideas:

Soyabean trading range for the day is 3798-3876.

Soyabean ended with losses due to weak demand from crushers and expectation of higher output from the major producing belts.

India soymeal exports plunged 41% in the first month of the New Year to 364,000 tons as compared to 620,000 tons for the same period year ago.

NCDEX accredited warehouses soyabean stocks gained by 30 tonnes to 219 tonnes.

At the Indore spot market in top producer MP, soybean dropped -28 rupee to 3998 rupee per 100 kgs.