Soyabean yesterday we have seen that market has moved 0.44% following an increased buying by traders, supported by firm overseas market sentiments. Pick up in exporters demand along with higher global markets cue, mainly pushed up soybean prices. In the Indore spot market, soybean jumped by 15 rupees to 2,055 rupees per 100 kg. Market has opened at 2078 & made a low of 2062 versus the day high of 2087.5. The total volume for the day was at 56500 lots and the open interest was at 73080.Support for soyabean is at 2062 below that could see a test of 2049. Resistance is now seen at 2088 above that could see a resistance of 2100.

Trading Ideas:

Soyabean trading range is 2049-2100.

Soyabean yesterday improved on global cues

Resistance for the soyabean is at 2088 and support is at 2062.

Spread between Soyabean AUG & SEP contracts yesterday traded in the range of 12 to 23.5.

In Indore spot prices gained 15 rupees and settled at 2055 rupees per 100 kg