Soyabean yesterday we have seen that market has moved 0.76% tracking a firm U. S. soy market. However, higher arrivals of soybean capped the upside. At the Indore spot market in top producer MP, soybean gained 4 Rs to 2181Re 100 kgs. Market has opened at 2248 & made a low of 2245.5 versus the day high of 2259.5. The total volume for the day was at 46220 lots and the open interest was at
211120. Support for soyabean is at 2250 below that could see a test of 2241. Resistance is now seen at 2264 above that could see a resistance of 2269. Spread between Soyabean JAN & FEB contracts yesterday ended at 61.00. Spread yesterday traded in the range of 61 to 63.

Trading Ideas:

Soyabean trading range is 2241-2269.

Soyabean ended higher tracking a firm U. S. soy market

Soyabean is taking resistance at 2272 and support is seen at 2246.

NCDEX accredited warehouses soyabean stocks rose 121 tonnes to 9049 tonnes.

At the Indore spot market in top producer MP, soybean gained 4 Rs to 2181Re 100 kgs.