Soyabean yesterday we have seen that market has moved 0.59% buoyed by concerns rains may slow down the pace of soybean harvesting at home. Rains in Madhya Pradesh and Maharashtra may delay the soybean arrivals. At the Indore spot market in top producer MP, soybean gained 21 Rs to 2024Re 100 kgs. Market has opened at 2062 & made a low of 2037 versus the day high of 2101. The total volume for the day was at 65730 lots and the open interest was at 95800. Support for soyabean is at 2032 below that could see a test of 2003. Resistance is now seen at 2096 above that could see a resistance of 2131.

Trading Ideas:

Soyabean trading range is 2003-2131.

Soyabean settled positive buoyed by concerns rains may slow down pace of soybean harvesting

Resistance for the soyabean is at 2096 and support is at 2032.

NCDEX accredited warehouses soybean stocks rose 31 tonnes to 3211 tonnes.

At the Indore spot market in top producer MP, soybean gained 25 Rs to 2028Re 100 kgs.