Soyabean yesterday we have seen that market has moved 0.69% on bargain buying. U. S. soybean exports declined in the preceding week, indicating international importers may be switching to South American suppliers. USDA said in its weekly grain report on Friday that the volume of soybeans for export inspected at U. S. ports in the week ended February 10 plunged by 59% to 396,332 metric tons, compared to 950,500 metric tons sold a week earlier.

At the Indore spot market in top producer MP, soybean gained 11 Rs to 2419Re 100 kgs. Market has opened at 2455 & made a low of 2450.5 versus the day high of 2476. The total volume for the day was at 40340 lots and the open interest was at 195210. Support for soyabean is at 2459 below that could see a test of 2442. Resistance is now seen at 2484 above that could see a resistance of 2493.

Trading Ideas: Soyabean trading range is 2441-2492. Soyabean yesterday we have seen that market has moved 0.69% on bargain buying. Soyabean is taking resistance at 2484 and support is seen at 2459. NCDEX accredited warehouses soyabean stocks rose 119 tonnes to 1780 tonnes. At the Indore spot market in top producer MP, soybean gained 11 Rs to 2419Re 100 kgs.