Soyabean yesterday we have seen that market has moved 1.43% due to bargain-buying driven by firmness in the overseas markets. But expectations of a bumper crop of summer-sown oilseeds and a sharp rise in arrivals weighed on sentiment.

At the Indore spot market in top producer Madhya Pradesh, soybean gained 12 rupee to 2020 rupee 100 kgs. Market has opened at 2031 & made a low of 2025 versus the day high of 2064. The total volume for the day was at
51140 lots and the open interest was at 119740.Support for soyabean is at 2035 below that could see a test of 2010. Resistance is now seen at 2074 above that could see a resistance of 2088.

Trading Ideas:

Soyabean trading range is 2010-2088.

Soyabean ended higher due to bargain-buying

Resistance for the soyabean is at 2074 and support is at 2035.

Spread between Soyabean SEP & OCT contracts yesterday traded in the range of -5 to 13.

At the Indore spot market in top producer Madhya Pradesh, soybean gained 12 rupee to 2020 rupee 100 kgs.