Soyabean yesterday we have seen that market has moved 0.22% as slower pace of soybean harvesting supported the prices. Unseasonal rains have slowed down soybean harvesting in Maharashtra and Madhya Pradesh, the states that account for more than 85 percent of the country's total soybean output. At the Indore spot market in top producer MP, soybean dropped -4 Rs to 2180Re 100 kgs. Market has opened at 2241.5 & made a low of 2233 versus the day high of 2264. The total volume for the day was at 73840 lots and the open interest was at 112840.Support for soyabean is at 2235 below that could see a test of 2219. Resistance is now seen at 2266 above that could see a resistance of 2281.

Trading Ideas:

Soyabean trading range is 2219-2281.

Soyabean settled positive as slower pace of soybean harvesting supported the prices

Soyabean is taking resistance at 2266 and support is seen at 2235.

China likely will import 4.65 million metric tons of soybeans in October

At the Indore spot market in top producer MP, soybean dropped -4 Rs to 2180Re 100 kgs.