Soyabean on NCDEX settled up by 1.68% at 3155 on strong demand for oil and meal due to positive crushing margin. Crushers are carrying soybean stock of around 20-25 days so crushing is happening with maximum capacity. According to market source India has received export orders of around 250,000-300,000 tons of soymeal as disparity of India soymeal to Argentina soymeal is around $1 which has tempted International buyers to buy soymeal from India. Arrivals at the spot markets are increasing now with daily arrivals at 400,000-450,000 bags as against 150,000-200,000 bags during previous week.

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The USDA’s November WASDE report projected that U.S. soybean stocks are expected to grow from 197 million bushels to 480 million bushels. At the Indore spot market in top producer MP, soybean gained 17 rupee to 3131 rupee per 100 kgs.Technically now Soyabean is getting support at 3134 and below same could see a test of 3112 level, And resistance is now likely to be seen at 3170, a move above could see prices testing 3184.