Soyabean yesterday we have seen that market has moved 1.15% on rising exports of soymeal. Soybean arrivals are picking up in spot market in Madhya Pradesh. They will not allow prices to rise sharply despite meal export demand. The total arrivals of soyabean were 4.65 -5 lakh bags at Madhya Pradesh and Maharashtra reported at 2 lakh bags. At the Indore spot market in top producer MP, soybean gained 11 Rs to 2174Re 100 kgs. Market has opened at 2221 & made a low of 2221 versus the day high of 2253. The total volume for the day was at 75470 lots and the open interest was at 109450.Support for soyabean is at 2224 below that could see a test of 2206. Resistance is now seen at 2256 above that could see a resistance of 2270.

Trading Ideas:

Soyabean trading range is 2206-2270.

Soyabean settled positive on rising exports of soymeal

Soyabean is taking resistance at 2256 and support is seen at 2224.

Total arrivals of soyabean were 4.65-5 lakh bags at Madhya Pradesh and 2 lakh bags in Maharashtra

At the Indore spot market in top producer MP, soybean gained 11 Rs to 2174Re 100 kgs.