Soyabean yesterday we have seen that market has moved 0.88%. Market has opened at 1937.5 & made a low of 1937.5 versus the day high of 1960. The total volume for the day was at 50710 lots and the open interest was at 141010. Soybean futures traded on the Dalian Commodity Exchange also settled higher as the market expects further support from government policies. China's State Council decided to continue buying rapeseed for its reserves this year, and it will raise the price at which it purchases the commodity from local farmers, the state-controlled. Support for soyabean is at 1942 below that could see a test of 1929. Resistance is now seen at 1965 above that could see a resistance of 1974.

Trading Ideas:

Soyabean trading range is 1929-1974.

Soyabean supported from the international mkt where support is expected from china government policies

Resistance for the soyabean is at 1996 and support is at 1962.

NCDEX accredited warehouses soyabean stocks rose by 172 tonnes to 6231 tonnes.

In Indore spot prices eased by 8 rupees to 1,977 rupees per 100 kg

WAIT FOR FRESH ENTRY AS MKT IS RANGING 1940-1970 LEVEL.