Soyabean on NCDEX settled down -1.06% at 2893 pressured by new season arrivals and higher stocks from last year. However, reports that government is about to increase import duty on edible oil and oil-seeds which will enhance domestic oil-seed demand, capped some losses. Production is projected at the second highest on record for 2017/18, with the United States on track for a record crop of 120.582 million tonnes just as the weather in Brazil improves following concerns over dryness.

Trading Ideas:

* Soyabean trading range for the day is 2847-2963.

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

* World soybean production stood at an all time-high at 351.254 million tonnes in the 2016/17 crop year.

* NCDEX accredited warehouses soyabean stocks gained by 4048 tonnes to 64266 tonnes.

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

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