Soybean edged higher supported by firm domestic demand and lower arrivals. Despite it being the peak season, arrivals were not picking up due to unseasonal rains in central India. Farmers were also not bringing their entire produce to the market anticipating a further rise in prices Soyabean yesterday we have seen that market has moved 0.12%. Market has opened at 2465 & made a low of 2445 versus the day high of 2465.

The total volume for the day was at 37790 lots and the open interest was at 92710. Support for soyabean is at 2446 below that could see a test of 2435.5. Resistance is now seen at 2466 above that could see a resistance of 2475.5.

Trading Ideas:

SOYABEAN TRADING RANGE IS 2405-2500

SOYBEAN EDGED HIGHER SUPPORTED BY FIRM DOMESTIC DEMAND AND LOWER ARRIVALS

SELL SOYBEAN DEC BELOW 2450 SL 2468 TGT 2438-2416-2396. NCDEX

NOW RES IS AT 2466 AND TAKING SUPPORT OF 2446 LEVEL.

IN INDORE SPOT PRICES ENDED STEADY AT 2426 RUPEES PER 100 KG