Soyabean yesterday we have seen that market has moved -0.26% on progress of monsoon rains in the key growing areas and a drop in meal exports. In the Indore spot market, soybean nudged down by 2 rupees to 1,891 rupees per 100 kg. Market has opened at 1905 & made a low of 1901.5 versus the day high of 1918. The total volume for the day was at 17100 lots and the open interest was at 148370.Support for soyabean is at 1899 below that could see a test of 1892. Resistance is now seen at 1916 above that could see a resistance of 1925.

Trading Ideas:

Soyabean trading range is 1892-1925.

Soyabean ended down on progress of monsoon rains in the key growing areas

Resistance for the soyabean is at 1916 and support is at 1892.

NCDEX accredited warehouses soybean stocks rose 195 tonnes to 3676 tonnes.

In Indore spot prices fell 2 rupees to end at 1,891 rupees per 100 kg

SELL SOYABEAN @ 1912 SL 1930 TGT 1900-1880.NCDEX