Soyabean yesterday we have seen that market has moved 2.75% supported by improved spot demand as millers found soybean crushing viable after a rally in soymeal and soyoil prices. Soybean arrivals in Madhya Pradesh, the largest producing state in India, stood at 70,000 bags, up from 60,000 bags. In Indore, soybean was quoted at 2,043 rupees per 100 kg, up 2 rupees from Wednesday's close. Market has opened at 2085 & made a low of 2076 versus the day high of 2156.5. The total volume for the day was at 129460 lots and the open interest was at 130330.Support for soyabean is at 2099 below that could see a test of 2047. Resistance is now seen at 2180 above that could see a resistance of 2208.

Trading Ideas:

Soyabean trading range is 2047-2208.

Soyabean ended higher supported by improved spot demand

Resistance for the soyabean is at 2180 and support is at 2130.

Soybean arrivals in Madhya Pradesh, stood at 70,000 bags, up from 60,000 bags

In Indore spot prices inched up by 2 rupees and settled at 2043 rupees per 100 kg