Soyabean yesterday we have seen that market has moved 0.5% as rains in harvesting area delayed arrivals. Maharashtra and Madhya Pradesh, which account for more than 85 percent of the country's total soybean output, received rains in the past two days. The total arrivals of 4 lakh bags at Madhya Pradesh and Maharashtra reported at 1.50 lakh bags. At the Indore spot market in top producer MP, soybean gained 23 Rs to 2151Re 100 kgs. Market has opened at 2184.5 & made a low of 2184.5 versus the day high of 2220. The total volume for the day was at 106070 lots and the open interest was at 125410. Support for soyabean is at 2178 below that could see a test of
2163. Resistance is now seen at 2213 above that could see a resistance of 2234.

Trading Ideas:

Soyabean trading range is 2163-2234.

Soyabean settled positive as rains in harvesting area delayed arrivals

Soyabean is taking resistance at 2213 and support is seen at 2178.

The total arrivals of 4 lakh bags at Madhya Pradesh and Maharashtra reported at 1.50 lakh bags.

At the Indore spot market in top producer MP, soybean gained 23 Rs to 2151Re 100 kgs.