Soyabean yesterday we have seen that market has moved -1.7% due to higher arrivals and good monsoon rains. As per latest data release by General Administration of Customs, China`s soybean imports in November augmented by 90% from the last year to 5.48 million metric tons. Total imports from January to November swelled by 31% to 49.37 million tons. At the Indore spot market in top producer MP, soybean dropped -20 Rs to 2173Re 100 kgs. Market has opened at 2222 & made a low of 2189 versus the day high of 2223. The total volume for the day was at 40480 lots and the open interest was at 103860.Support for soyabean is at 2179 below that could see a test of 2167. Resistance is now seen at 2213 above that could see a resistance of 2235.

Trading Ideas:

Soyabean trading range is 2167-2235.

Soyabean ended lower due to higher arrivals

Soyabean is taking resistance at 2213 and support is seen at 2180.

NCDEX accredited warehouses soyabean stocks rose 648 tonnes to 8746 tonnes.

At the Indore spot market in top producer MP, soybean dropped -20 Rs to 2173Re 100 kgs.