Soyabean yesterday we have seen that market has moved 1.45% on firmness in the U.S market. Compared to the average arrivals of around 200000 bags, the total arrivals of soybeans in the country stood at just 175000 bags. At the Indore spot market in top producer MP, soybean gained 14 Rs to 2363Re 100 kgs. Market has opened at 2456 & made a low of 2456 versus the day high of 2498.5. The total volume for the day was at 89380 lots and the open interest was at 221940.Support for soyabean is at 2465 below that could see a test of 2439. Resistance is now seen at 2507 above that could see a resistance of 2524.

Trading Ideas:

Soyabean trading range is 2440-2525.

Soyabean ended firm on firmness in the U.S market.

Soyabean is taking resistance at 2507 and support is seen at 2465.

NCDEX accredited warehouses soyabean stocks remained unchanged at 11552 tonnes.

At the Indore spot market in top producer MP, soybean gained 14 Rs to 2363Re 100 kgs.