Soyabean yesterday we have seen that market has moved -1.34% as traders continued to reduce risk exposure in the face of improved South American crop prospects and diminished export demand. Argentina has sold about 6.5 million metric tons of soybeans from its upcoming new crop to China for April-July shipment. At the Indore spot market in top producer MP, soybean dropped -11 Rs to 2389Re 100 kgs. Market has opened at 2458 & made a low of 2428.5 versus the day high of 2470. The total volume for the day was at 126170 lots and the open interest was at 219610.Support for soyabean is at 2421 below that could see a test of 2404. Resistance is now seen at 2463 above that could see a resistance of 2487. Trading Ideas:

Soyabean trading range is 2406-2489.

Soyabean ended lower as traders continued to reduce risk in face of improved South American crop

Soyabean is taking resistance at 2463 and support is seen at 2421.

NCDEX accredited warehouses soyabean stocks rose 72 tonnes to 614 tonnes.

At the Indore spot market in top producer MP, soybean dropped -11 Rs to 2389Re 100 kgs.