Soyabean yesterday we have seen that market has moved -2.21% following weak overseas cues. China's imports of soybean oil may rise 5.3 percent to 2 million. China's soybean imports will rise 5.5 percent in the year starting Oct. 1 as an increase in personal income boosts demand for vegetable oil and meat, a unit of the U. S. Department of Agriculture said. At the Indore spot market in top producer MP, soybean dropped -27 Rs to 2376Re 100 kgs. Market has opened at 2450 & made a low of 2399 versus the day high of 2450. The total volume for the day was at 96290 lots and the open interest was at 205630. Support for soyabean is at 2388 below that could see a test of 2368. Resistance is now seen at 2439 above that could see a resistance of 2470.

Trading Ideas:

Soyabean trading range is 2368-2470.

Soyabean yesterday ended lower following weak overseas cues

Soyabean is taking resistance at 2428 and support is seen at 2380

NCDEX accredited warehouses soyabean stocks rose by 91 tonnes to 3462 tonnes.

At the Indore spot market in top producer MP, soybean dropped -27 Rs to 2376Re 100 kgs.