Soyabean yesterday we have seen that market has moved -1.56% on expectations of a bumper output of summer-sown oilseeds. The market is expecting higher production of soybean and other kharif oilseeds this year due to higher area. At the Indore spot market in top producer MP, soybean dropped -24 Rs to 2006 Re 100 kgs. Market has opened at 2071 & made a low of 2043 versus the day high of 2073. The total volume for the day was at 52640 lots and the open interest was at 93610.Support for soyabean is at 2036 below that could see a test of 2025. Resistance is now seen at 2066 above that could see a resistance of 2085.

Trading Ideas:

Soyabean trading range is 2025-2085.

Soyabean settled weak on expectations of a bumper output of summer-sown oilseeds

Resistance for the soyabean is at 2066 and support is at 2036.

Spread between Soyabean OCT & NOV contracts yesterday traded in the range of 0 to 16.

At the Indore spot market in top producer MP, soybean dropped -24 Rs to 2006Re 100 kgs.