Soyabean yesterday we have seen that market has moved 0.82% on an improvement in meal exports but hopes of higher output of summer-sown oilseeds weighed on prices. At the Indore spot market in top producer Madhya Pradesh, soybean gained 1 rupee to 2047 rupee 100 kgs. Market has opened at 2073 & made a low of 2057 versus the day high of 2098. The total volume for the day was at 89720 lots and the open interest was at 139390. Support for soyabean is at 2069 below that could see a test of 2043. Resistance is now seen at 2110 above that could see a resistance of 2125.

Trading Ideas:

Soyabean trading range is 2042-2124.

Soyabean ended positive on an improvement in meal exports

Resistance for the soyabean is at 2110 and support is at 2069.

NCDEX accredited warehouses soyabean stocks rose 1163 tonnes to 3018 tonnes.

At the Indore spot market in top producer Madhya Pradesh, soybean gained 1 rupee to 2047 rupee 100 kgs.