Soyabean yesterday we have seen that market has moved 1.15% on strong spot demand. In the Indore spot market, soybean jumped by 16 rupees to 2,040 rupees per 100 kg. Market has opened at 2050 & made a low of 2050 versus the day high of 2073. The total volume for the day was at 31060 lots and the open interest was at 76140.Support for soyabean is at 2050 below that could see a test of 2039. Resistance is now seen at 2073 above that could see a resistance of 2085.

Trading Ideas:

Soyabean trading range is 2039-2085.

Soyabean settled higher on strong spot demand

Resistance for the soyabean is at 2073 and support is at 2050.

NCDEX accredited warehouses soyabean stocks rose by 2752 tonnes to 1017 tonnes.

In Indore spot prices gained 16 rupees and settled at 2040 rupees per 100 kg