Soyabean yesterday we have seen that market has moved -1.43% on intraday profit booking. The total arrivals of 2.75 lakh bags at Madhya Pradesh and Maharashtra reported at 1.25 lakh bags were with the price range of Rs 2180-2200 per quintal. U.S. soybean export sales rose nearly 50 percent last week to a one-month high as China, the world's top importer of the oilseed, booked its largest weekly purchases in almost four months, according to USDA. At the Indore spot market in top producer MP, soybean dropped -3 Rs to 2220Re 100 kgs. Market has opened at 2277 & made a low of 2241 versus the day high of 2281. The total volume for the day was at 60460 lots and the open interest was at 129070.Support for soyabean is at 2228 below that could see a test of 2214. Resistance is now seen at 2268 above that could see a resistance of 2294.

Trading Ideas:

Soyabean trading range is 2216-2296.

Soyabean ended lower on intraday profit booking

Soyabean is taking resistance at 2268 and support is seen at 2228.

NCDEX accredited warehouses soyabean stocks rose 93 tonnes to 6420 tonnes.

At the Indore spot market in top producer MP, soybean dropped -3 Rs to 2220Re 100 kgs.