UPDATE

UPDATE ON OCTOBER 1, 2008

India's soybean production in 2008 may rise 14 per cent

to a record 1.082 crore metric tons as the area over which

the crop was sown was larger than last year, the Soybean

Processors Association of Ind This estimate is higher than

projections made by industry experts of around 1.07 crore tons,

and much higher than the Central government estimate of 99.4 lakh

tons. Output last year was 94.7 lakh tons.

TECHNICALS

TECHNICAL LEVELS FOR OCTOBER 1, 2008

SOYABEAN NCDEX OCT 2008

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

SUPPORTS : S1 1950 , S2 1930

RESISTANCES : R1 1990, R2 2220.



RM SEED NCDEX NOVEMBER 2008

SHORT TERM TREND : BEARISH

LONG TERM TREND : BEARISH

SUPPORTS : S1 586.50, S2 581

RESISTANCES : R1 598, R2 604.

UPDATES ON OCT 30 2008

OCT 30 WEDNESDAY

RECORD SOYBEAN OUTPUT SEEN.

Soybean production is heading for a record of 108.17

lakh tonnes this year against 94.75 tonnes last year.

The estimates are against the centre pegging the oil

seed output at 99.4. it was 99.9 last year.

SOPA'S projections are based on a 8 % rise in the

area under soyabean.The total area under soyabean

has been estimated as 96.24 lakh hectares till

September 24 compared to 99.49 last year.