Soyabean ended positive on firm global markets and hopes demand for Indian meal from overseas buyers may rise on loading delays in Brazil. U.S. soybean futures rose to a one-month high at the Chicago Board on Monday as traders covered short positions after bearish pressure from outside markets eased. In Indore spot market soybean price rose by 12 rupees to 2,032 rupees. Soyabean yesterday we have seen that market has moved 2.08%. Market has opened at 2023 & made a low of 2023 versus the day high of 2060. The total volume for the day was at 60330 lots and the open interest was at 124500.Support for soyabean is at 2035 below that could see a test of 2011. Resistance is now seen at 2072 above that could see a resistance of 2085.

Trading Ideas:

Soyabean trading range is 2009-2083.

Soyabean ended positive on firm global markets

Resistance for the soyabean is at 2072 and support is at 2035.

NCDEX accredited warehouses soyabean stocks rose by 173 tonnes to 6112 tonnes.

In Indore spot prices gained by 12 rupees and settled at 2032 rupees per 100 kg

SELL SOYABEAN APR @ 2045-2050 SL ABV 2074 TGT 2026-2005-1985.NCDEX