Soyabean once again closed with the weak sentimetals tracking Weakness from international market which keeps influencing Indian soybean market too.Soyabean yesterday traded with the negative node and settled -1.71% down at 2326.5 on the fear of increase in Soybean planting area due to delay in corn planning is putting pressure on soybean prices on CBOT. However, the impact is limited in Indian market and the price fall is not as sharp as seen in the CBOT. Demand in the physical markets in India remains steady and is likely to improve in near future as crushing is going on in full swing. Further, monsoon progress will be watched very care fully in India. Thus till the picture is not clear, it is unlikely to witness any major fall in soybean prices in Indian market. For today's session market is looking to take support at 2305, a break below could see a test of 2284 and where as resistance is now likely to be seen at 2361, a move above could see prices testing 2396.

Trading Ideas:

Soyabean trading range is 2283-2395.

Soybean ended down on poor buying in physical market due to a drop in overseas demand

Soyabean is taking resistance at 2359 and support is seen at 2303.

China has eased buying, which, along with rising estimates of South American crops.

At the Indore spot market in top producer MP, soybean dropped -15 Rs to 2319Re 100 kgs.