Soyabean settled up 1.38% at 3818.5 due to improved demand in the spot market against limited arrivals from producing belts. Sentiment improved further due to India's soymeal exports in November jumped almost three-fold from a month ago as supplies of the animal feed improved. The soymeal exports rose to 503,269 tonnes in November from 182,724 tonnes a month ago. Meanwhile, a firming trend in overseas markets also supported the upside. Arrivals of soyabean in Madhya Pradesh state dropped by 125000 bags of 100kg each to 75000 bags of 100kg each. Arrivals of soyabean in Maharashtra state dropped by 75000 bags of 100kg each to 100000 bags of 100kg each. Arrivals of soyabean in Rajasthan state dropped by 30000 bags of 100kg each to 40000 bags of 100kg each. World soybean 2013-14 production is estimated up 5% year-on-year basis at 285 mn tons, said GC in its November report. End-season inventories are expected to recover by 13%, supported by improved availabilities in the major exporters. As buying interest from China strengthens, world trade is forecast to expand by 10% year-on-year basis. North-central parts of Brazil had rain over the weekend that helped boost moisture there. Prices were mostly pressured by the good start to the soybean growing season in South America. The market saw significant support due to signs of strong export demand for U. S. soybeans. At the Indore spot market in top producer MP, soybean gained 30 rupee to 3888 rupee per 100 kgs. Technically market is under fresh buying as market has witnessed gain in open interest by 7.16% to settled at 132360, now Soyabean is getting support at 3774 and below same could see a test of 3729 level, And resistance is now likely to be seen at 3852, a move above could see prices testing 3885.

Trading Ideas:

Soyabean trading range for the day is 3731-3885.

Soyabean ended with gains due to improved demand in the spot market against limited arrivals from producing belts.

Sentiment improved further due to India's soymeal exports in November jumped almost three-fold from a month ago.

NCDEX accredited warehouses soyabean stocks gained by 61 tonnes to 2262 tonnes.

At the Indore spot market in top producer MP, soybean gained 30 rupee to 3888 rupee per 100 kgs.