Soyabean yesterday we have seen that market has moved -0.48% as profit taking driven by rising arrivals outweighed gains in overseas markets and strong export demand for soymeal. The total arrivals soyabean were of 3.50 lakh bags at Madhya Pradesh and Maharashtra arrivals reported at 1 lakh bags. At the Indore spot market in top producer MP, soybean dropped -1 Rs to 2126Re 100 kgs. Market has opened at 2201 & made a low of 2184 versus the day high of 2221. The total volume for the day was at 127110 lots and the open interest was at 122670. Support for soyabean is at 2181 below that could see a test of 2164. Resistance is now seen at 2218 above that could see a resistance of 2238. Trading Ideas:

Soyabean trading range is 2164-2238.

Soyabean settled down on profit taking driven by rising arrivals

Soyabean is taking resistance at 2218 and support is seen at 2181.

The total arrivals soyabean were of 3.50 lakh bags at Madhya Pradesh and 1 lakh bags at Maharashtra

At the Indore spot market in top producer MP, soybean dropped -1 Rs to 2126Re 100 kgs.