Soyabean yesterday we have seen that market has moved -0.18% on profit-taking driven by higher acreage under oilseeds and favourable weather, but an improvement in meal exports limited the downside. In the Indore spot market, soybean fell by 23 rupees to 2,096 rupees per 100 kg, while soyoil eased by 1.95 rupees to 504.35 rupees per 10 kg. Market has opened at 2151 & made a low of 2136 versus the day high of 2161.5. The total volume for the day was at 90430 lots and the open interest was at 130910.Support for soyabean is at 2144 below that could see a test of 2127. Resistance is now seen at 2169 above that could see a resistance of 2178.

Trading Ideas:

Soyabean trading range is 2126-2177.

Soyabean ended down on profit-taking driven by higher acreage under oilseeds

Resistance for the soyabean is at 2178 and support is at 2144.

Spread between Soyabean SEP & OCT contracts yesterday traded in the range of -22 to -1.

In Indore spot prices fell 23 rupees and settled at 2096 rupees per 100 kg