Soyabean yesterday we have seen that market has moved -1.04% getting pressure from hopes of a bumper output of summer-sown pulses but improvement in meal exports limited the downside. At the Indore spot market in top producer MP, soybean dropped -20 Rs to 1972Re 100 kgs. Market has opened at 2018 & made a low of 1991 versus the day high of 2021.5. The total volume for the day was at 71360 lots and the open interest was at
89570. Support for soyabean is at 1982 below that could see a test of 1971. Resistance is now seen at 2012 above that could see a resistance of 2032.

Trading Ideas:

Soyabean trading range is 1971-2032.

Soyabean settled weak getting pressure from hopes of a bumper output

Resistance for the soyabean is at 2012 and support is at 1982.

Spread between Soyabean OCT & NOV contracts yesterday traded in the range of 5 to 12.5.

At the Indore spot market in top producer MP, soybean dropped -20 Rs to 1972Re 100 kgs.