Soyabean yesterday we have seen that market has moved 0.12% on anticipation of higher meal exports in coming months. A rise in arrival of soybean in spot markets weighed on sentiment. At the Indore spot market in top producer Madhya Pradesh, soybean dropped -1 rupee to 2004 rupee 100 kgs. Market has opened at 2028 & made a low of 2012 versus the day high of 2040. The total volume for the day was at 55810 lots and the open interest was at 102090.Support for soyabean is at 2017 below that could see a test of 2001. Resistance is now seen at 2045 above that could see a resistance of 2057.

Trading Ideas:

Soyabean trading range is 2001-2057.

Soyabean settled positive on anticipation of higher meal exports in coming months

Resistance for the soyabean is at 2045 and support is at 2017.

A rise in arrival of soybean in spot markets weighed on sentiment

At the Indore spot market in top producer Madhya Pradesh, soybean dropped -1 rupee to 2004 rupee 100 kgs.