Soyabean yesterday we have seen that market has moved 0.4% due to present demand and international sentiments, however the increased demand amid lack of sufficient supply may pose a dampener for the commodity. So far the good international sentiments are supporting the commodity prices for near term. China's October 2010-September 2011 soybean imports will rise to 54.5 million tonnes from 50.3 million tonnes in 2009-2010 despite its moves to cool its economy, Hamburg-based oilseeds analysts Oil World said. At the Indore spot market in top producer MP, soybean gained 8 Rs to 2220Re 100 kgs. Market has opened at 2273 & made a low of 2265.5 versus the day high of 2291.5. The total volume for the day was at 106530 lots and the open interest was at 179820.Support for soyabean is at 2263 below that could see a test of 2251. Resistance is now seen at 2289 above that could see a resistance of 2303.

Trading Ideas:

Soyabean trading range is 2251-2303.

Soyabean ended firm due to present demand and international sentiments

Soyabean is taking resistance at 2289 and support is seen at 2263.

NCDEX accredited warehouses soyabean stocks rose 61 tonnes to 4467 tonnes.

At the Indore spot market in top producer MP, soybean gained 8 Rs to 2220Re 100 kgs.