Soyabean yesterday we have seen that market has moved -0.21% as higher acreage under summer-sown oilseeds and favourable weather triggered profit-taking. In the Indore spot market, soybean gained by 3 rupees to 2,123 rupees per 100 kg. Market has opened at 2175 & made a low of 2156 versus the day high of 2194.5.

The total volume for the day was at 71580 lots and the open interest was at 156930.Support for soyabean is at 2151 below that could see a test of 2134. Resistance is now seen at 2189 above that could see a resistance of 2211.

Trading Ideas:

Soyabean trading range is 2134-2211.

Soyabean ended weak as higher acreage and favourable weather weighed on prices

Resistance for the soyabean is at 2189 and support is at 2151.

NCDEX accredited warehouses soyabean stocks rose 131 tonnes to 919 tonnes.

In Indore spot prices gained 3 rupees and settled at 2123 rupees per 100 kg