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Soybean futures (Nov) is expected to trade sideways in the range of 3195-3255.The counter is expected to witness a lower level buying taking positive cues from the spot markets. Demand in soybean is good from crushers as well as stockists.Stockists are buying expecting prices to improve ahead amid optimism of better soybean meal exports. India’s soybean export prospects seem better in ongoing marketing season 2018-19 (Oct-Sept) due to good production followed by competitive rates amid depreciating rupee. Mustard futures (Nov) is likely to trade higher & test 4250 levels. China has dropped a ban on rapeseed meal imports from India as the Government seeks to diversify sources of protein used in animal feed,China's customs administration said. Rapeseed meal shipments from India can resume from Monday if they meet certain inspection and quarantine requirements,the General Administration of Customs said on its website. A lower level buying can be seen near 587 levels in CPO futures (Oct) as it has the potential to test 592-594.The latest trade figures show that India's palm oil imports edged lower by 1.4% to 918,675 tonnes in September from a year. On the international market, Malaysian palm oil futures edged up on snapping two previous sessions of declines,supported by gains in U.S. soyoil and a weaker ringgit, palm's trading currency.
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