Soyabean yesterday we have seen that market has moved 2.09% on fresh export demand, and an Argentina port strike rekindled bullish perceptions of tightening supply forecasts. Workers strike in Argentina has been lifting oilseeds markets across the world. At the Indore spot market in top producer MP, soybean gained 44 Rs to 2502Re 100 kgs. Market has opened at 2492 & made a low of 2492 versus the day high of 2552. The total volume for the day was at 104980 lots and the open interest was at 137420.Support for soyabean is at 2503 below that could see a test of 2467. Resistance is now seen at 2563 above that could see a resistance of 2587.

Trading Ideas:

Soyabean trading range is 2466-2586.

Soyabean gained yesterday on fresh export demand

Soyabean is taking resistance at 2563 and support is seen at 2503.

NCDEX accredited warehouses soyabean stocks fell by 30 tonnes to 6339 tonnes.

At the Indore spot market in top producer MP, soybean gained 44 Rs to 2502Re 100 kgs.

BUY SOYABEAN FEB @ 2510-2518 SL 2490 TGT 2534-2550.NCDEX