Soyabean yesterday we have seen that market has moved -0.58% as sowing accelerated after good rains in the main growing region. Sowing operations are usually accelerated by the arrival of good rainfall. In the Indore spot market, soybean dropped 24 rupees to 1,872 rupees per 100 kg. Market has opened at 1907 & made a low of 1886 versus the day high of 1914. The total volume for the day was at 40610 lots and the open interest was at 107940.Support for soyabean is at 1881 below that could see a test of 1870. Resistance is now seen at 1909 above that could see a resistance of 1926.

Trading Ideas:

Soyabean trading range is 1870-1926.

Soyabean ended weak as sowing accelerated after good rains

Resistance for the soyabean is at 1909 and support is at 1881.

NCDEX accredited warehouses soyabean stocks fell 614 tonnes to 3668 tonnes.

In Indore spot prices fell 24 rupees and settled at 1,872 rupees per 100 kg

SELL SOYABEAN AUG @ 1900 SL 1918 TGT 1885-1865.NCDEX