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Soyabean on NCDEX settled down by -0.75% at 2897 on ample supply in the domestic spot market. Further, favorable growing weather in South America stoked expectations of ample global supply, also influenced soyabean prices. The production is expected to be higher this year and the oil millers active at lower prices so that they can have parity to export soy meal at competitive rates. The Soybean Processors Association of India has raised the estimate for soy meal exports in 2016-17 (Oct-Sep) to 1.8 mt from 1.0 mt projected earlier. 

                 Trading Ideas

*Soyabean trading range for the day is 2842-2948. 

*Soyabean ended with losses on ample supply in the domestic spot market.

*NCDEX accredited warehouses soyabean stocks gained by 645 tonnes to 211006 tonnes. 

*At the Indore spot market in top producer MP, soybean dropped  -17 Rupees to 2961 Rupees per 100 kgs.