Soyabean yesterday we have seen that market has moved 0.23% tracking firm overseas markets, though rising arrivals kept the upside limited. Soybean arrivals are seen rising as rains over growing areas have finally stopped, boosting harvest operations. The total arrivals of soyabean were 4 lakh bags were at Madhya Pradesh and Maharashtra reported at 1.50 lakh bags. At the Indore spot market in top producer MP, soybean dropped -3 Rs to 2145Re 100 kgs. Market has opened at 2198 & made a low of 2184 versus the day high of 2212. The total volume for the day was at 50970 lots and the open interest was at 111220.Support for soyabean is at 2190 below that could see a test of 2173. Resistance is now seen at 2218 above that could see a resistance of 2229.

Trading Ideas:

Soyabean trading range is 2173-2229.

Soyabean settled firm tracking firm overseas markets

Soyabean is taking resistance at 2218 and support is seen at 2190.

NCDEX accredited warehouses soyabean stocks rose 180 tonnes to 2038 tonnes.

At the Indore spot market in top producer MP, soybean dropped -3 Rs to 2145Re 100 kgs.