Soyabean on NCDEX settled up by 0.87% at 4036 tracked by higher prices in international markets after a US Department of Agriculture forecast on domestic stocks came in below industry estimates. 

Estimation for Argentina, world's third biggest soybean producer, 2016-17 crop output hiked to 57 million tons compared to 56.5 million tons in the same period a year ago. Chinese soybean imports surged 33 percent higher in April from a year ago, setting a monthly record, amid strong demand for soymeal and soyoil.  At the Indore spot market in top producer MP, soybean gained  15 rupee to 4117 rupee per 100 kgs.

 Technically market is under short covering as market has witnessed drop in open interest by -3.22% to settled at 101560, now Soyabean is getting support at 4001 and below same could see a test of 3965 level, And resistance is now likely to be seen at 4097, a move above could see prices testing 4157.      

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