Soyabean edged higher on slight improvement in spot demand amid thin arrival and on rebound in overseas markets. Arrivals of soybean and rapeseed were low compared to last week. International market also gave support. In the spot market in Indore, in the state of Madhya Pradesh, a top producer, soybean prices edged 5 rupees higher to 2,026 rupees. Soyabean yesterday we have seen that market has moved 0.37%. Market has opened at 2062 & made a low of 2051 versus the day high of 2068. The total volume for the day was at 24290 lots and the open interest was at 98600.Support for soyabean is at 2052 below that could see a test of 2043. Resistance is now seen at 2069 above that could see a resistance of 2077.

Trading Ideas:

Soyabean trading range is 2043-2077.

Soyabean edged higher on slight improvement in spot demand amid thin arrival

Resistance for the soyabean is at 2077 and support is at 2043.

NCDEX accredited warehouses soyabean stocks rose by 59 tonnes to 6350 tonnes.

In Indore spot prices gained 5 rupees lower to 2,026 rupees per 100 kg

SELL SOYABEAN APR BELOW 2045 SL 2068 TGT 2026-2010-1998.NCDEX