Soyabean ended steady on Saturday as weak demand for soyabean in spot is weighing on the prices and limiting the gains. In Indore spot market in top producer Madhya Pradesh, soybean price fell by 4 rupees to 1,985 rupees. Soyabean yesterday we have seen that market has moved 0.05%. Market has opened at 1978 & made a low of 1973 versus the day high of 1988. The total volume for the day was at 26870 lots and the open interest was at 133840.Support for soyabean is at 1975 below that could see a test of 1966. Resistance is now seen at 1990 above that could see a resistance of 1996.

Trading Ideas:

Soyabean trading range is 1966-1996.

Soyabean ended steady as weak demand in spot is weighing on prices

Resistance for the soyabean is at 1996 and support is at 1966.

NCDEX accredited warehouses soyabean stocks fell by 208 tonnes to 6089 tonnes.

In Indore spot prices fell by 4 rupees to 1,985 rupees per 100 kg

SELL SOYABEAN MAY @ 2000 SL 2012 TGT 1986-1970.NCDEX