Soyabean yesterday we have seen that market has moved 0.38% supported by improved spot demand as millers found soybean crushing viable after a rally in soymeal and soyoil prices. Madhya Pradesh, Maharashtra, Andhra Pradesh and Rajasthan, key soybean and groundnut producing states, received good rains in the past week. In the Indore spot market, soybean edged up by a rupee to 2,041 rupees per 100 kg. Market has opened at 2091 & made a low of 2079 versus the day high of 2102.5. The total volume for the day was at 77750 lots and the open interest was at 114150.Support for soyabean is at 2081 below that could see a test of 2068. Resistance is now seen at 2105 above that could see a resistance of 2115.

Trading Ideas:

Soyabean trading range is 2068-2115.

Soyabean ended positive supported by improved spot demand

Resistance for the soyabean is at 2105 and support is at 2081.

Spread between Soyabean SEP & OCT contracts yesterday ended at -3.00.

In Indore spot prices inched up by a rupee and settled at 2041 rupees per 100 kg