Soyabean yesterday we have seen that market has moved -0.67% on weak overseas cues and as higher acreage and good weather raised hopes of better oilseed crop. At the Indore spot market in top producer Madhya Pradesh, soybean dropped -1 rupee to 2046 rupee 100 kgs. Market has opened at 2084 & made a low of 2065 versus the day high of 2098. The total volume for the day was at 115520 lots and the open interest was at 144150. Support for soyabean is at 2062 below that could see a test of 2047. Resistance is now seen at 2095 above that could see a resistance of 2113.

Trading Ideas:

Soyabean trading range is 2048-2114.

Soyabean ended weak on weak overseas cues

Resistance for the soyabean is at 2095 and support is at 2062.

NCDEX accredited warehouses soyabean stocks rose 638 tonnes to 1855 tonnes.

At the Indore spot market in top producer Madhya Pradesh, soybean dropped -1 rupee to 2046 rupee 100 kgs.