Soyabean on NCDEX settled up by 1.2% at 2953 on expectation of good demand from Industries and lower supplies in the spot market. Meanwhile, Soyabean prices edged lower in international markets as forecasts for ample global supplies kept the oil seed near a three-month low.

Trading Ideas: 

*Soyabean trading range for the day is 2900-2988. 

*Soyabean ended with gains on expectation of good demand from Industries and lower supplies in the spot market. 

*USDA recently raised its global production forecast for the 2016-17 fiscal, driven by higher output estimate for Brazil. 

*NCDEX accredited warehouses soyabean stocks dropped by 387 tonnes to 198890 tonnes. 

*At the Indore spot market in top producer MP, soybean gained 18 Rupees to 3052 Rupees per 100 kgs.

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