Soyabean yesterday traded with the positive node and settled 0.38% up at 2396 as arrivals fell in MP, as the buoyancy witnessed at the start of Kharif harvesting begin to wane. However, the weak global cues ad lack of buying pulled the prices lower in the all the major mandies. Spot soybean was being quoted down Rs 10 at around Rs 2200-2240 in Indore while prices in Kota shed Rs 30-35 to trade around Rs 2200-2275. The Soy DOC was being offered at Rs 18100 per tonne in Kandla, down Rs 100 on the day. The arrivals in MP stood at 180000 bags today, down from 200000 bags yesterday. The trend in arrivals has been thinning off late after averaging around 200000 bags in the last week of December. For today's session market is looking to take support at 2382, a break below could see a test of 2368 and where as resistance is now likely to be seen at 2404, a move above could see prices testing 2413.

Trading Ideas:

Soyabean trading range is 2368-2413.

Soyabean traded positive as arrivals fell.

The weak global cues ad lack of buying pulled the prices lower in the all the major mandies.

The arrivals in MP stood at 180000 bags today, down from 200000 bags yesterday.

At the Indore spot market in top producer MP, soybean dropped -4 Rs to 2294Re 100 kgs.

BUY SOYABEAN JAN ABV 2365 SL 2345 TGT 2390-2410.NCDEX (BTST)