Soyabean yesterday we have seen that market has moved -0.71%. China has purchased an additional 8.45 million metric tons of U.S. soybeans, bringing its two-day total to 11.52 million, the U.S. Soybean Export Council said. U.S. soybean planting may decline 0.3 percent to 77.144 million acres this year, compared with 77.404 million sown in 2010. At the Indore spot market in top producer MP, soybean gained 21 Rs to 2468Re 100 kgs. Market has opened at 2541 & made a low of 2518 versus the day high of 2557. The total volume for the day was at 78580 lots and the open interest was at 185600.Support for soyabean is at 2506 below that could see a test of 2492. Resistance is now seen at 2545 above that could see a resistance of 2570.

Trading Ideas:

Soyabean trading range is 2493-2571.

Soyabean yesterday we have seen that market has moved -0.71%.

Soyabean is taking resistance at 2545 and support is seen at 2506.

NCDEX accredited warehouses soyabean stocks stood at 7625 tonnes.

At the Indore spot market in top producer MP, soybean gained 21 Rs to 2468Re 100 kgs.