Soyabean yesterday we have seen that market has moved 0.74% on low level buying on good spot demand and tracking gains in overseas market. U. S. soybean inventories before next year’s harvest will be 30 percent less than forecast in October the USDA said. At the Indore spot market in top producer MP, soybean gained 8 Rs to 2195Re 100 kgs. Market has opened at 2239 & made a low of 2236.5 versus the day high of 2260. The total volume for the day was at 66580 lots and the open interest was at 150590. Support for soyabean is at 2236 below that could see a test of 2225. Resistance is now seen at 2260 above that could see a resistance of 2272.

Trading Ideas:

Soyabean trading range is 2226-2273.

Soyabean ended positive on low level buying on good spot demand

Soyabean is taking resistance at 2260 and support is seen at 2236.

Spread between Soyabean DEC & JAN contracts yesterday traded in the range of 43 to 55.5.

At the Indore spot market in top producer MP, soybean gained 8 Rs to 2195Re 100 kgs.