Soyabean yesterday we have seen that market has moved -0.88% due to a rise in arrivals of soybean and estimates of bumper crop of summer-sown oilseeds, though anticipation of a rise in meal exports in the coming months limited the downside. Soybean crushing was higher in the past three-four weeks. At the Indore spot market in top producer MP, soybean dropped -3 rupees to 2001 rupees 100 kgs. Market has opened at 2027.5 & made a low of 2008 versus the day high of 2032. The total volume for the day was at 41640 lots and the open interest was at 97590.Support for soyabean is at 2006 below that could see a test of 1995. Resistance is now seen at 2030 above that could see a resistance of 2043.

Trading Ideas:

Soyabean trading range is 1995-2043.

Soyabean settled weak due to a rise in arrivals of soybean

Resistance for the soyabean is at 2030 and support is at 2006.

Soybean crushing was higher in the past three-four weeks.

At the Indore spot market in top producer MP, soybean dropped -3 rs to 2001 re 100 kgs.