Soyabean yesterday we have seen that market has moved -0.52% weighed by expectations of rising arrivals in the local markets by next week, though overseas markets kept the downside limited. Soybean arrivals are seen rising as rains over growing areas have finally stopped, boosting harvest operations. At the spot market in top producer MP, soybean dropped -1 Rs to 2144Re 100 kgs. Market has opened at 2213 & made a low of 2193 versus the day high of 2214. The total volume for the day was at 40070 lots and the open interest was at 108320.Support for soyabean is at 2189 below that could see a test of 2181. Resistance is now seen at 2210 above that could see a resistance of 2223.

Trading Ideas:

Soyabean trading range is 2180-2222.

Soyabean settled weak weighed by expectations of rising arrivals

Soyabean is taking resistance at 2210 and support is seen at 2189.

NCDEX accredited warehouses soybean stocks rose 421 tonnes to 2459 tonnes.

At the Indore spot market in top producer MP, soybean dropped -1 Rs to 2144Re 100 kgs.