Soyabean yesterday we have seen that market has moved -0.46% as sowing picked up in main growing areas. Soybean sowing has been accelerated in central India. Farmers are bringing old stock in spot market fearing prices may fall once new crop arrivals start from October. In the Indore spot market, soybean fell by 6 rupees to 1,894 rupees per 100 kg. Market has opened at 1945 & made a low of 1931 versus the day high of 1955. The total volume for the day was at 47880 lots and the open interest was at 125830.Support for soyabean is at 1929 below that could see a test of 1918. Resistance is now seen at 1953 above that could see a resistance of 1966.

Trading Ideas:

Soyabean trading range is 1918-1966.

Soyabean ended weak as sowing picked up in main growing areas

Resistance for the soyabean is at 1953 and support is at 1929.

Yesterday we have seen that open interest rose by 1110 and volume fell by 10210 lots

In Indore spot prices dropped 6 rupees and settled at 1,894 rupees per 100 kg