Soyabean on NCDEX settled up by 0.17% at 2918 due to expectations of higher demand from crushers and in export market. Lower arrivals in the mandis due hoarding by farmers and demand hope also supporting prices. However, oversupply concerns capped some gains. In India, production of yellow bean is expected to rise to 8.90-9.10 million tons as compared to 7.1 million tons in the previous year. 

Production in the United States, Brazil and Argentina, the world's top producers, is also expected to rise. Soybean arrivals in local mandis during March fell by 23% compared to previous month as farmers were reluctant to sell crops at lower prices, said the Soybean Processors Association of India. Arrivals during March fell to 500,000 tons as compared to 650,000 tons in February.

Trading Ideas:

*Soyabean trading range for the day is 2898-2948.

*Soyabean prices gained due to expectations of higher demand from crushers and in export market.

*Lower arrivals in the mandis due hoarding by farmers and demand hope also supporting prices.

*NCDEX accredited warehouses soyabean stocks dropped by 1743 tonnes to 184818 tonnes.

*At the Indore spot market in top producer MP, soybean gained 9 Rupees to 3051 Rupees per 100 kgs.

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