Soyabean yesterday we have seen that market has moved 0.75% due to bargain-buying driven by gains in the overseas markets and strong export demand for local meal.  But an estimated rise in output of summer-sown oilseeds and rising soybean arrivals capped the upside. At the Indore spot market in top producer MP, soybean gained 3 Rs to 1985Re 100 kgs. Market has opened at 2009 & made a low of 1996 versus the day high of 2020. The total volume for the day was at 32520 lots and the open interest was at 96330.Support for soyabean is at 2002 below that could see a test of 1987. Resistance is now seen at 2026 above that could see a resistance of 2035.

Trading Ideas:

Soyabean trading range is 1987-2035.

Soyabean settled firm due to bargain-buying driven by gains in the overseas markets

Soyabean is taking resistance at 2026 and support is seen at 2002.

Spread between Soyabean OCT & NOV contracts yesterday traded in the range of 24 to 31.