Soyabean yesterday we have seen that market has moved 0.44% on good export demand for soymeal and a rise in the U.S. market. Demand for Indian soymeal is very good from Asian buyers. At the Indore spot market in top producer MP, soybean dropped -37 Rs to 2178Re 100 kgs. Market has opened at 2287 & made a low of 2226 versus the day high of 2302. The total volume for the day was at 146700 lots and the open interest was at 221630.Support for soyabean is at 2249 below that could see a test of 2199. Resistance is now seen at 2325 above that could see a resistance of 2351.

Trading Ideas:

Soyabean trading range is 2199-2351.

Soyabean ended firm on good export demand for soymeal

Soyabean is taking resistance at 2325 and support is seen at 2272.

NCDEX accredited warehouses soyabean stocks rose 393 tonnes to 4247 tonnes.

At the Indore spot market in top producer MP, soybean dropped -37 Rs to 2178Re 100 kgs.