Soyabeen eased from their record highs tracking weak global leads, but firm domestic demand and thin arrivals kept the downside limited. Declining arrivals and stockists buying in spot market would support the prices.

Despite being the peak season, arrivals were not picking up due to unseasonal rains in central India and farmers are also not bringing their entire produce to the market anticipating a further rise in prices. Soyabean yesterday we have seen that market has moved -0.47%. Market has opened at 2429 & made a low of 2411 versus the day high of 2435. The total volume for the day was at
65100 lots and the open interest was at 131590. Support for soyabean is at 2411 below that could see a test of 2399. Resistance is now seen at 2435 above that could see a resistance of 2447.

Trading Ideas:

SOYABEAN TRADING RANGE IS 2370-2480

SOYABEAN HIT A NEW CONTRACT HIGH DUE TO FIRM DOMESTIC DEMAND AND STRONG GLOBAL LEADS

SELL SOYABEAN DEC @ 2430-2440 SL 2468 TGT 2408-2385-2370.NCDEX

NOW RES IS AT 2438 AND TAKING SUPPORT OF 2410 LEVEL BELOW THIS LOOKS TILL 2390-2375.

IN INDORE SPOT PRICES FELL BY 6 RUPEES TO 2387 RUPEES PER 100 KG.