Soyabean yesterday we have seen that market has moved -0.37% in the absence of any fresh cue. An improvement in spot demand due to rising meal exports limited the downside. At the Indore spot market in top producer MP, soybean gained 1 Rs to 2212Re 100 kgs. Market has opened at 2275 & made a low of 2240 versus the day high of 2293. The total volume for the day was at 161920 lots and the open interest was at 180400.Support for soyabean is at 2239 below that could see a test of 2213. Resistance is now seen at 2292 above that could see a resistance of 2319.

Trading Ideas:

Soyabean trading range is 2213-2319.

Soyabean ended weak in the absence of any fresh cue

Soyabean is taking resistance at 2292 and support is seen at 2239.

NCDEX accredited warehouses soyabean stocks fell 270 tonnes to 4406 tonnes.

At the Indore spot market in top producer MP, soybean gained 1 Rs to 2212Re 100 kgs.