NCDEX SOYABEAN BULLISH FOR SHORT TERM

• NCDEX Soyabean Jan futures were trading down on Thursday taking cues from the international markets and on profit booking on higher levels.
• NCDEX Soyabean January contract slipped 0.86% to 3337 levels on Thursday.
• Soyaa bean January contract is likely to trade bullish for short term and sideways for intra day. Short term support is seen at 3230 and resistance at 3450. “Intra day support is seen at 3340 and and resistance at 3380,”.
• Global oilseed production for 2014/15 is projected at a record 530.7 million tons, up 1.8 million tons from last month. Foreign oilseed production accounts for most of the change on increases for soyabeans, rapeseed, and sun flower seed.