Soyabean yesterday we have seen that market has moved 0.44% as speculators created fresh positions, driven by pickup in demand in the spot market. At the Indore spot market in top producer Madhya Pradesh, soybean gained 10 rupee to 2046 rupee 100 kgs. Market has opened at 2057 & made a low of 2056.5 versus the day high of 2076. The total volume for the day was at 34130 lots and the open interest was at 142280.Support for soyabean is at 2060 below that could see a test of 2049. Resistance is now seen at 2080 above that could see a resistance of 2088.

Trading Ideas:

Soyabean trading range is 2049-2088.

Soyabean ended positive as speculators created fresh positions

Resistance for the soyabean is at 2080 and support is at 2060.

NCDEX accredited warehouses soyabean stocks remained at 3368 tonnes.

At the Indore spot market in top producer Madhya Pradesh, soybean gained 10 rupee to 2046 rupee 100 kgs.