Soyabean yesterday we have seen that market has moved -1.34% on profit-taking driven by weakness in overseas markets, though poor rainfall limited the downside. In the Indore spot market, soybean eased by 2 rupees to 1,972 rupees per 100 kg. Market has opened at 2050 & made a low of 2020 versus the day high of 2050. The total volume for the day was at 91590 lots and the open interest was at 116940.Support for soyabean is at 2011 below that could see a test of 2001. Resistance is now seen at 2041 above that could see a resistance of 2061.

Trading Ideas:

Soyabean trading range is 2001-2061.

Soyabean ended weak on profit-taking driven by weakness in overseas markets

Resistance for the soyabean is at 2041 and support is at 2011.

Spread between Soyabean AUG & SEP contracts yesterday traded in the range of 13 to 15.

In Indore spot prices inched down by 2 rupees and settled at 1,972 rupees per 100 kg