Soyabean yesterday we have seen that market has moved -0.74% following weak spot market amid weak overseas markets. The total daily arrivals of soya bean were reported in the range of 35000-45000 bags daily in the major mandies of Madhya Pradesh and Maharashtra. The total arrivals have reported sluggish trend due to restricted supplies from traders. At the Indore spot market in top producer MP, soybean dropped -26 Rs to 2369Re 100 kgs. Market has opened at 2432 & made a low of 2407.5 versus the day high of 2432. The total volume for the day was at 43390 lots and the open interest was at 174770.Support for soyabean is at 2408 below that could see a test of 2396. Resistance is now seen at 2433 above that could see a resistance of 2445.

Trading Ideas:

Soyabean trading range is 2396-2445.

Soyabean ended weak following weak spot market amid weak overseas markets

Soyabean is taking resistance at 2433 and support is seen at 2408.

The total daily arrivals of soya bean were reported in the range of 35000-45000 bags daily in the major mandies

At the Indore spot market in top producer MP, soybean dropped -26 Rs to 2369Re 100 kgs.