Soyabean yesterday we have seen that market has moved 0.55% on some spot buying triggered by a fall in prices over the past three months as well as expectations of lower acreage. At the Indore spot market in top producer Madhya Pradesh, soybean edged up by 5 rupees to 1,970 rupees. Market has opened at 1985.5 & made a low of 1985.5 versus the day high of 2003.5. The total volume for the day was at 31920 lots and the open interest was at 114760.Support for soyabean is at 1987 below that could see a test of 1977. Resistance is now seen at 2005 above that could see a resistance of 2013.

Trading Ideas:

Soyabean trading range is 1977-2013.

Soyabean moved up on some spot buying triggered by a fall in prices

Resistance for the soyabean is at 2005 and support is at 1987.

NCDEX accredited warehouses soyabean stocks gained by 103 tonnes to 4665 tonnes.

In Indore spot prices rose 5 rupees to end at 1,970 rupees per 100 kg

SELL SOYABEAN JUNE @ 2000 SL 2018 TGT 1978-1960.NCDEX