Soyabean yesterday we have seen that market has moved 0.86% on firm spot market and weak rains in a key soybean growing state also supported the prices. The biggest soybean producing Madhya Pradesh state has so far received lower-than-normal rains, delaying sowing. In the Indore spot market, soybean rose by 12 rupees to 1,904 rupees per 100 kg. Market has opened at 1916 & made a low of 1910 versus the day high of 1936. The total volume for the day was at 34100 lots and the open interest was at 116440.Support for soyabean is at 1913 below that could see a test of 1899. Resistance is now seen at 1939 above that could see a resistance of 1951.

Trading Ideas:

Soyabean trading range is 1899-1951.

Soyabean ended positive Saturday on firm spot market demand

Resistance for the soyabean is at 1939 and support is at 1913.

Yesterday we have seen that open interest fell by 7200 and volume by 7190

In Indore spot prices gained 12 rupees to end at 1,904 rupees per 100 kg

BUY SOYABEAN JULY @ 1915 SL 1905 TGT 1924-1938.NCDEX