Soyabean yesterday we have seen that market has moved -0.98% on higher arrivals and a soft U. S. soy market. Arrival pressure is also there in physical soybean market. The total arrivals of 3.25 lakh bags were reported at Madhya Pradesh and Maharashtra reported arrivals of 1.25 lakh bags. At the Indore spot market in top producer MP, soybean dropped -22 Rs to 2188Re 100 kgs. Market has opened at 2245 & made a low of 2219 versus the day high of 2245. The total volume for the day was at 39210 lots and the open interest was at 121950. Support for soyabean is at 2219 below that could see a test of 2206. Resistance is now seen at 2245 above that could see a resistance of 2258.

Trading Ideas:

Soyabean trading range is 2206-2258.

Soyabean ended weak on higher arrivals and a soft U. S. soy market

Soyabean is taking resistance at 2245 and support is seen at 2219.

NCDEX accredited warehouses soyabean stocks rose 109 tonnes to 6872 tonnes.

At the Indore spot market in top producer MP, soybean dropped -22 Rs to 2188Re 100 kgs.