Soyabean yesterday we have seen that market has moved -1.88% on hopes of a bumper output of summer-sown oilseeds. Rainfall was a concern for a soybean crop, but now Maharashtra is not receiving rains. In Madhya Pradesh also intensity of rains has gone down. At the Indore spot market in top producer MP, soybean dropped -14 Rs to 1992Re 100 kgs. Market has opened at 2057 & made a low of 2006.5 versus the day high of 2057.

The total volume for the day was at 61580 lots and the open interest was at 87590. Support for soyabean is at 1992 below that could see a test of 1974. Resistance is now seen at 2043 above that could see a resistance of 2075. Trading Ideas: Soyabean trading range is 1974-2075.

Soyabean settled weak on hopes of a bumper output of summer-sown oilseeds

Resistance for the soyabean is at 2043 and support is at 1992.

Rainfall was a concern for a soybean crop, but now Maharashtra is not receiving rains.

At the Indore spot market in top producer MP, soybean dropped -14 Rs to 1992Re 100 kgs.