Soyabean yesterday we have seen that market has moved 0.8% due to increased buying by traders, supported by firm overseas market sentiments. China's soybean imports in November rose 47% compared with October and 90% from a year earlier, to 5.48 million metric tons, the General Administration of Customs said. The total arrivals of soyabean in Madhya Pradesh stood steady around 200000 bags. At the Indore spot market in top producer MP, soybean gained 15 Rs to 2202Re 100 kgs. Market has opened at 2258 & made a low of 2256 versus the day high of 2274. The total volume for the day was at 54320 lots and the open interest was at 197060.Support for soyabean is at 2256 below that could see a test of 2247. Resistance is now seen at 2274 above that could see a resistance of 2283.

Trading Ideas:

Soyabean trading range is 2247-2283.

Soyabean ended higher due to increased buying by traders

Soyabean is taking resistance at 2274 and support is seen at 2256.

China's soybean imports in November rose 47% compared with October and 90% from a year earlier

At the Indore spot market in top producer MP, soybean gained 15 Rs to 2202Re 100 kgs.