Soyabean on Tuesday weakened on lower meal exports. In Indore spot market in top producer Madhya Pradesh, soybean price eased by 3 rupees to 1,970 rupees. Soyabean yesterday we have seen that market has moved -0.35%. Market has opened at 1977 & made a low of 1971 versus the day high of 1985. The total volume for the day was at 41420 lots and the open interest was at 138750. Support for soyabean is at 1970 below that could see a test of 1964. Resistance is now seen at 1984 above that could see a resistance of 1992.

Trading Ideas:

Soyabean trading range is 1963-1991.

Soyabean on Tuesday weakened on lower meal exports

Resistance for the soyabean is at 1984 and support is at 1964.

NCDEX accredited warehouses soyabean stocks fell by 29 tonnes to 6060 tonnes

In Indore spot prices fell by 3 rupees to 1,970 rupees per 100 kg

SELL SOYABEAN MAY @ 1990 SL 2005 TGT 1978-1956.NCDEX