Soyabean yesterday we have seen that market has moved -0.67% on hopes of an increase in acreage. Soybean arrivals in physical markets in Madhya Pradesh and Maharashtra are rising. Demand is steady from oil millers. The arrivals of soyabean were 275000 bags in total at MP. At the Indore spot market in top producer MP, soybean dropped -3 Rs to 2187Re 100 kgs. Market has opened at 2235 & made a low of 2225.5 versus the day high of 2254.5. The total volume for the day was at 66970 lots and the open interest was at 157270.Support for soyabean is at 2218 below that could see a test of 2207. Resistance is now seen at 2247 above that could see a resistance of 2265.

Trading Ideas:

Soyabean trading range is 2208-2266.

Soyabean ended lower on hopes of an increase in acreage

Soyabean is taking resistance at 2247 and support is seen at 2218.

NCDEX accredited warehouses soyabean stocks rose 125 tonnes to 5771 tonnes.

At the Indore spot market in top producer MP, soybean dropped -3 Rs to 2187Re 100 kgs.