Soyabean on NCDEX settled up by 0.61% at 3613 on expectations of damage to the crop due to plentiful rains in the key regions that produce the oilseed. However, lower soymeal export data and good sowing progress, capped some gains. As per the USDA weekly export sales report, for 2016/17 exports were up by 16% at 718,800 tons on week and around 81% from prior-4 week average. 

Prices were also supported by higher demand from China after the world's biggest soybean consumer imported 7.76 million tons of bean in July compared to 7.56 million tons imported in June, data showed.Visit Us www.ripplesadvisoryx.com/freetrial.php or Get Free Trials Just Give One Missed Call @98-27-80-80-90.

                                                           During current oil year (October - September period), total exports during October 2015 to July, 2016 stood at 238,676 tons as against 686,525 tons last year, showing a decrease by 65.23%. 

At the Indore spot market in top producer MP, soybean gained  36 rupee to 3823 rupee per 100 kgs.Technically now Soyabean is getting support at 3582 and below same could see a test of 3550 level, And resistance is now likely to be seen at 3649, a move above could see prices testing 3684.