Soyabean yesterday we have seen that market has moved 0.82% tracking a firm U.S. soy market. However, higher arrivals of soybean capped the upside. Total arrivals in Madhya Pradesh are 275000 bags, down slightly from around 300000 witnessed on Thursday and Friday. At the Indore spot market in top producer MP, soybean gained 9 Rs to 2182Re 100 kgs. Market has opened at 2204 & made a low of 2196 versus the day high of 2213. The total volume for the day was at 44770 lots and the open interest was at 86220.Support for soyabean is at 2199 below that could see a test of 2189. Resistance is now seen at 2216 above that could see a resistance of 2223.

Trading Ideas:

Soyabean trading range is 2188-2222.

Soyabean ended positive tracking a firm U.S. market

Soyabean is taking resistance at 2216 and support is seen at 2199.

NCDEX accredited warehouses soyabean stocks rose 60 tonnes to 8806 tonnes.

At the Indore spot market in top producer MP, soybean gained 9 Rs to 2182Re 100 kgs.