Soyabean yesterday we have seen that market has moved -0.49% due the weakness in global markets and domestic fundamentals were also weak. Higher imports, higher stocks amid increasing arrivals in domestic mandies added bearish trend. At the Indore spot market in top producer MP, soybean gained 8 Rs to 2006Re 100 kgs. Market has opened at 2044 & made a low of 2021 versus the day high of 2052. The total volume for the day was at 48390 lots and the open interest was at 95280.Support for soyabean is at 2014 below that could see a test of 2002. Resistance is now seen at 2045 above that could see a resistance of 2064.

Trading Ideas:

Soyabean trading range is 2002-2064.

Soyabean settled weak as fundamentals in domestic market remained weak.

Resistance for the soyabean is at 2045 and support is at 2014.

NCDEX accredited warehouses soybean stocks rose 100 tonnes to 3241 tonnes.

At the Indore spot market in top producer MP, soybean gained 8 Rs to 2006Re 100 kgs.