Soyabean yesterday we have seen that market has moved 0.6% tracking gains in US soybean prices which rose driven by weather concerns for Argentina crops and a drop in U. S. dollar versus its major rivals Friday. The combination of fundamental support, weather and export demand coupled with outside market support are buoying prices.

At the Indore spot market in top producer MP, soybean gained 11 Rs to 2220Re 100 kgs. Market has opened at 2264.5 & made a low of 2261 versus the day high of 2276.5. The total volume for the day was at 53200 lots and the open interest was at 136690. Support for soyabean is at 2264 below that could see a test of 2255.

Resistance is now seen at 2279 above that could see a resistance of 2286. Trading Ideas: Soyabean trading range is 2255-2286. Soyabean ended positive tracking gains in US soybean prices Soyabean is taking resistance at
2290 and support is seen at 2264. NCDEX accredited warehouses soyabean stocks rose 447 tonnes to 6327 tonnes. At the Indore spot market in top producer MP, soybean gained 11 Rs to 2220Re 100 kgs.