Soyabean yesterday we have seen that market has moved -1.79% in sync with losses in overseas markets and as soybean harvesting has been gaining pace in dry weather. The total arrivals of soyabean were 3 lakh bags at Madhya Pradesh and Maharashtra reported at 0.60 lakh bags. At the Indore spot market in top producer MP, soybean dropped -69 Rs to 1904Re 100 kgs. Market has opened at 1975.5 & made a low of 1930 versus the day high of 1975.5. The total volume for the day was at 46920 lots and the open interest was at 89250.Support for soyabean is at 1930 below that could see a test of 1907. Resistance is now seen at 1976 above that could see a resistance of 1998.

Trading Ideas:

Soyabean trading range is 1907-1998.

Soyabean settled lower tracking losses in overseas markets

Soyabean is taking resistance at 1976 and support is seen at 1930.

Total arrivals of soyabean were 3 lakh bags at MP and Maharashtra reported at 0.60 lakh bags