Soyabean on NCDEX settled down by -2.07% at 2833 driven by new season arrivals and higher stocks from last year. However, some losses were capped on anticipation of good demand for the domestic oilseeds as government is going to hike import duty on edible oil and oilseeds. Prices dropped below the government's Minimum Support Price (MSP) in major wholesale markets across the country, due to a surge in arrivals during the ongoing peak harvesting season.

Trading Ideas:

* Soyabean trading range for the day is 2782-2912.

* Soyabean prices dropped driven by new season arrivals and higher stocks from last year.

* Prices dropped below the government's MSP in major wholesale markets across the country, due to a surge in arrivals during the ongoing peak harvesting season.

* NCDEX accredited warehouses soyabean stocks gained by 8137 tonnes to 72403 tonnes.

* At the Indore spot market in top producer MP, soybean dropped -45 Rupees to 2771 Rupees per 100 kgs.

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