Soyabean yesterday we have seen that market has moved 0.69% on firm overseas market due to unfavorable weather in Brazil, Canada and China. Fresh arrivals of soybean have started in major producing states may cap upper limit. At the Indore spot market in top producer MP, soybean dropped -3 Rs to 1998Re 100 kgs. Market has opened at 2011 & made a low of 2009 versus the day high of 2048. The total volume for the day was at 62240 lots and the open interest was at 92340.Support for soyabean is at 2013 below that could see a test of 1992. Resistance is now seen at 2052 above that could see a resistance of 2070.

Trading Ideas:

Soyabean trading range is 1992-2070.

Soyabean settled positive firm overseas market

Resistance for the soyabean is at 2052 and support is at 2013.

NCDEX accredited warehouses soybean stocks fell 100 tonnes to 3141 tonnes.

At the Indore spot market in top producer MP, soybean dropped -3 Rs to 1998Re 100 kgs.