Soyabean yesterday we have seen that market has moved 0.49% as the Indian soy meal export figures came quite impressive. Brazil will harvest 66.78 million metric tons of soybeans in the year that starts Feb. 1, down from 68.7 million harvested a year earlier, the U.S. Department of Agriculture’s Foreign Agricultural Service said At the Indore spot market in top producer MP, soybean dropped -10 Rs to 2210Re 100 kgs. Market has opened at 2249 & made a low of 2227 versus the day high of 2262.5. The total volume for the day was at 46860 lots and the open interest was at 124020.Support for soyabean is at 2235 below that could see a test of 2213. Resistance is now seen at 2270 above that could see a resistance of 2284. Spread between Soyabean DEC & JAN contracts yesterday ended at 67.50. Spread yesterday traded in the range of 56 to 67.5.

Trading Ideas:

Soyabean trading range is 2212-2283.

Soyabean ended positive on  Indian soy meal export figures

Soyabean is taking resistance at 2270 and support is seen at 2235.

NCDEX accredited warehouses soyabean stocks rose 343 tonnes to 6763 tonnes.

At the Indore spot market in top producer MP, soybean dropped -10 Rs to 2210Re 100 kgs.