Soyabean yesterday we have seen that market has moved 1.08% on good spot demand and expecting area under soybean may fall this year as it gave lower returns than cotton and pulses last year. In the Indore spot market, soybean rose by 15 rupees to 1,909 rupees per 100 kg. Market has opened at 1943 & made a low of 1943 versus the day high of 1969. The total volume for the day was at 77850 lots and the open interest was at 129850.Support for soyabean is at 1946 below that could see a test of 1932. Resistance is now seen at 1972 above that could see a resistance of 1984.

Trading Ideas:

Soyabean trading range is 1932-1984.

Soyabean ended positive on good spot demand

Resistance for the soyabean is at 1972 and support is at 1929.

Yesterday we have seen that open interest rose by 3690 and volume by 29970 lots

In Indore spot prices gained 15 rupees and settled at 1,909 rupees per 100 kg