Soyabean yesterday we have seen that market has moved 1.71% bolstered by a weak rupee and concerns patchy rains over key soybean growing areas may hurt sowing and yields. In the Indore spot market, soybean climbed 28 rupees to 1,974 rupees per 100 kg. Market has opened at 2015 & made a low of 2010 versus the day high of 2055. The total volume for the day was at 87510 lots and the open interest was at 128350.Support for soyabean is at 2020 below that could see a test of 1993. Resistance is now seen at 2065 above that could see a resistance of 2083.

Trading Ideas:

Soyabean trading range is 1993-2083.

Soyabean ended positive on concerns patchy rains over key soybean growing areas

Resistance for the soyabean is at 2065 and support is at 2020.

Spread between Soyabean AUG & SEP contracts yesterday traded in the range of 9 to 17.

In Indore spot prices gained 28 rupees and settled at 1,974 rupees per 100 kg