Soyabean on NCDEX settled up by 0.72% at 2918 on account of lower supplies at the spot market. However, weak cues from international markets following reports of bumper crops, capped some gains. The supplies have been lower due to lower prevailing prices. There is steady domestic as well as export demand at lower levels. Soybean exports during Oct-Feb were estimated at 112,000 tonnes, compared with 80,186 tonnes in the year-ago period, as per SOPA press release. 

Arrivals during February fell to 650,000 tons as compared to 900,000 tons in January. U.S. soybean futures closed little higher on Tuesday on bargain buying after prices fell for 10 of the previous 11 sessions.

Trading Ideas:

*Soyabean trading range for the day is 2870-2962. 

*Soyabean prices ended with gains on account of lower supplies at the spot market.

*NCDEX accredited warehouses soyabean stocks dropped by 2694 tonnes to 199277 tonnes. 

*At the Indore spot market in top producer MP, soybean gained 2 Rupees to 3034 Rupees per 100 kgs.

Get us live on http://www.ripplesadvisory.com/services.php.