Soyabean yesterday we have seen that market has moved -0.44% as good rainfall in Maharashtra weighed on prices. In the Indore spot market, soybean edged up 6 rupees to 1,889 rupees per 100 kg. Chinese buyers had curbed purchases in recent weeks as port inventories surged. Market has opened at 1905 & made a low of 1901 versus the day high of 1912.5. The total volume for the day was at 30220 lots and the open interest was at 131760. Support for soyabean is at 1898 below that could see a test of 1894. Resistance is now seen at 1909 above that could see a resistance of 1917.

Trading Ideas:

Soyabean trading range is 1894-1917.

Soyabean ended weak as good rainfall in Maharashtra weighed on prices

Resistance for the soyabean is at 1917 and support is at 1894.

NCDEX accredited warehouses soyabean stocks jumped 540 tonnes to 4268 tonnes.

In Indore spot prices gained 6 rupees to end at 1,889 rupees per 100 kg

BUY SOYABEAN JULY @ 1900-1905 SL 1880 TGT 1920-1938.NCDEX