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Soyabean on NCDEX settled up by 0.1% at 3156 on improved demand from China despite of increasing supplies as markets resumes trading activity. Arrivals yesterday increased to nearly 560,000 bags as compared to 100,000 bags during previous session. However, Market participants have realize that soybean prices have bottom out and will be traded in a tight range during the peak arrival season during Nov-Dec. Arrivals across the country was pegged at 500,000 bags and may continue till January, depend upon the harvesting of various crop duration. In soybean, officials say market rates have slumped to Rs 2,700-2,500 per quintal, against an MSP of Rs 2,750. In parts of Maharashtra, the rates are even lower.

A bumper harvest, along with sharp drop in soy seed demand due to a global slump in prices and a record drop in meal exports, have hit farmers hard. Soymeal exports dropped 44 per cent to 421,741 tonnes during April-September, first six months of this financial year, from the same period last year.

At the Indore spot market in top producer MP, soybean gained  10 rupee to 3062 rupee per 100 kgs.Technically now Soyabean is getting support at 3144 and below same could see a test of 3131 level, And resistance is now likely to be seen at 3171, a move above could see prices testing 3185.