Soyabean yesterday we have seen that market has moved 0.32% as heavy rains in Indonesia and Malaysia coupled with drought-like situation in South America may put pressure on soyabean imports in the next couple of months. The total arrivals of 2.75 lakh bags at Madhya Pradesh and Maharashtra reported at 1.50 lakh bags with the price range of Rs 2180-2200 per quintal. At the Indore spot market in top producer MP, soybean gained 13 Rs to 2195Re 100 kgs. Market has opened at 2216 & made a low of 2207.5 versus the day high of 2230. The total volume for the day was at 59460 lots and the open interest was at 65200.Support for soyabean is at 2203 below that could see a test of 2194. Resistance is now seen at 2226 above that could see a resistance of 2239.

Trading Ideas:

Soyabean trading range is 2194-2239.

Soyabean ended positive as weather concerns may hit supply concern

Soyabean is taking resistance at 2226 and support is seen at 2203.

NCDEX accredited warehouses soyabean stocks rose 31 tonnes to 8837 tonnes.

At the Indore spot market in top producer MP, soybean gained 13 Rs to 2195Re 100 kgs.