Soyabean on NCDEX settled up by 0.54% at 2800 as support seen on expectation that the Minimum Support Prices (MSP) for soybean may increase and lower arrivals in the physical market. Though, good sowing progress in the current kharif crop, capped some gains. Arrivals of soybean in the country rose to 6.4 mln tn during Oct-May from 4.6 mln tn a year ago due to huge production this year, Soybean Processors Association of India today said. Arrivals in May were 450,000 tn, higher than 320,000 tn in the same period last year.

Trading Ideas:

* Soyabean trading range for the day is 2744-2836.

* Soyabean ended with gains as support seen on expectation that the MSP for soybean may increase and lower arrivals in the physical market.

* USDA left domestic soybean production unchanged in monthly report, but bumped both old-crop and new-crop soybean ending stocks.

* NCDEX accredited warehouses soyabean stocks dropped by 169 tonnes to 90033 tonnes.

* At the Indore spot market in top producer MP, soybean remains unchanged at 0 Rupees to 2886 Rupees per 100 kgs.

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