Soyabean yesterday we have seen that market has moved -0.31% as rains have revived in soybean-growing areas of central India weighing on prices. Soybean sowing is lagging in Madhya Pradesh, but it may accelerate next week as weather department has forecast rains there in next 2-3 days. In the Indore spot market, soybean rose by 3 rupees to 1,893 rupees per 100 kg Market has opened at 1925 & made a low of 1915 versus the day high of 1930. The total volume for the day was at 31350 lots and the open interest was at 95140.Support for soyabean is at 1911 below that could see a test of 1905. Resistance is now seen at 1926 above that could see a resistance of 1935.

Trading Ideas:

Soyabean trading range is 1905-1935.

Soyabean ended weak as rains have revived in soybean-growing areas

Resistance for the soyabean is at 1926 and support is at 1905.

NCDEX accredited warehouses soyabean stocks rose 14 tonnes to 4282 tonnes.

In Indore spot prices jumped 3 rupees to end at 1,893 rupees per 100 kg

BUY SOYABEAN JULY @ 1910 SL 1897 TGT 1924-1940.NCDEX