Soyabean yesterday we have seen that market has moved 0.15% tracking firm overseas markets and rising exports of oilmeal, though hopes of rising arrivals in the local market kept the upside limited. Soybean arrivals are seen rising as rains over growing areas have finally stopped, boosting harvest operations. At the Indore spot market in top producer MP, soybean gained 26 Rs to 2170Re 100 kgs. Market has opened at 2321 & made a low of 2308 versus the day high of 2333.5. The total volume for the day was at 61540 lots and the open interest was at 221750. Support for soyabean is at 2309 below that could see a test of 2296. Resistance is now seen at 2334 above that could see a resistance of 2347.

Trading Ideas:

Soyabean trading range is 2296-2347.

Soyabean settled higher rising exports of oilmeal

Soyabean is taking resistance at 2340 and support is seen at 2300.

NCDEX accredited warehouses soybean stocks fell 413 tonnes to 2046 tonnes.

At the Indore spot market in top producer MP, soybean gained 26 Rs to 2170Re 100 kgs.