Soyabean yesterday we have seen that market has moved -1.06% due to drop in demand in local spot markets. The total arrivals of soyabean were 0.50 lakh bags at Madhya Pradesh and Maharashtra reported at 0.50 lakh bags. At the Indore spot market in top producer MP, soybean dropped -33 Rs to 2400Re 100 kgs.

Market has opened at 2498 & made a low of 2424 versus the day high of 2498. The total volume for the day was at 195600 lots and the open interest was at 233320. Support for soyabean is at 2431 below that could see a test of
2391. Resistance is now seen at 2505 above that could see a resistance of 2539.

Trading Ideas: Soyabean trading range is 2390-2538. Soyabean ended lower due to drop in demand in local spot markets Soyabean is taking resistance at 2505 and support is seen at 2431. NCDEX accredited warehouses soyabean stocks rose 172 tonnes to 542 tonnes. At the Indore spot market in top producer MP, soybean dropped -33 Rs to 2400Re 100 kgs.