Soybean was reacting to the U.S. market. But since meal exports were weak, gains were capped. In the Indore spot market soybean price rose by 17 rupees to 1,943 rupees. Soyabean yesterday we have seen that market has moved 0.13%. Market has opened at 1952 & made a low of 1949.5 versus the day high of 1967.5. The total volume for the day was at 67910 lots and the open interest was at 136430.Support for soyabean is at 1949 below that could see a test of 1940. Resistance is now seen at 1967 above that could see a resistance of 1976.

Trading Ideas:

Soyabean trading range is 1940-1976.

Soyabean yesterday ended flat on weak  meal exports

Resistance for the soyabean is at 1697 and support is at 1649.

NCDEX accredited warehouses soyabean stocks rose by 277 tonnes to 6508 tonnes.

In Indore spot prices gained by 17 rupees to 1,943 rupees per 100 kg

SELL SOYABEAN MAY @ 1960-965 SL 1982 TGT 1945-1930.NCDEX