Soyabean yesterday traded with the negative node and settled -0.61% down at 2035. Some support had been seen from the spot market which closed at 2024 that is up by 7rs. In yesterday's trading session Soyabean has touched the low of 2032 after opening at 2056.5, and finally settled at 2035. For today's session market is looking to take support at 2025, a break below could see a test of 2014 and where as resistance is now likely to be seen at 2053, a move above could see prices testing 2070. Spread between Soyabean APR & MAY contacts yesterday ended at -45.00, we have seen yesterday that the Soyabean market had traded with a negative node and settled -0.61% down. Spread yesterday traded in the range of -46.5 to -43.

Trading Ideas:

Soyabean trading range is 2014-2070.

Soybean yesterday pulled down by a drop in meal exports.

Resistance for the soyabean is at 2053 and support is at 2025.

Yesterday we have seen that open interest fell by 2670 and volume fell by 6100 lots.

In Indore spot prices gained 7 rupees lower to 2,024 rupees per 100 kg

SELL SOYABEAN APR @ 2050-2060 SL 2075 TGT 2028-2005.NCDEX