Soyabean yesterday we have seen that market has moved -0.53% on profit booking after prices rose Friday on fears that farmers will not sow enough acres this spring to replenish depleted soybean supplies, and potential yield losses from wet conditions in northern Brazil. U. S. government predicted that soybean reserves will be higher than initially estimated. At the Indore spot market in top producer MP, soybean gained 6 Rs to 2304Re 100 kgs. Market has opened at 2347 & made a low of 2327 versus the day high of 2351. The total volume for the day was at 33960 lots and the open interest was at 145510. Support for soyabean is at 2322 below that could see a test of 2312. Resistance is now seen at 2346 above that could see a resistance of 2360.

Trading Ideas:

Soyabean trading range is 2312-2360.

Soyabean ended down on profit booking after prices rose Friday on fears that farmers will not sow enough acres

Soyabean is taking resistance at 2346 and support is seen at 2322.

U. S. government predicted that soybean reserves will be higher than initially estimated

At the Indore spot market in top producer MP, soybean gained 6 Rs to 2304Re 100 kgs.