Soyabean on NCDEX settled down by -0.24% at 2940 on profit booking after prices gained on lower arrivals in local mandis. However, due to poor remuneration this year soybean growers in Madhya Pradesh, who contribute about 70% of India's total bean output, are expected to shift to pulses and cotton tempted by attractive prices.

Technically market is under fresh selling as market has witnessed gain in open interest by 3.1% to settled at 116560 while prices down -7 rupees, now Soyabean is getting support at 2930 and below same could see a test of 2919 level, And resistance is now likely to be seen at 2955, a move above could see prices testing 2969.

Trading Ideas: 

* Soyabean trading range for the day is 2919-2969. 

* Soybean dropped on profit booking after prices gained on lower arrivals in local mandis. 

* However, due to poor remuneration this year soybean growers in MP, are expected to shift to pulses and cotton tempted by attractive prices. 

* NCDEX accredited warehouses soyabean stocks dropped by 1013 tonnes to 136983 tonnes. 

* At the Indore spot market in top producer MP, soybean gained 3 Rupees to 3075 Rupees per 100 kgs.

Earn Money In Commodity Market Trading Tips to click here http://www.ripplesadvisory.com/services.php or Miss Call @96444-05056.