Soyabean yesterday we have seen that market has moved -1.02% due to weak soymeal demand and higher stocks. At the Indore spot market in top producer Madhya Pradesh, soybean was down 24 rupees to 1,43 rupees 100 kg. Market has opened at 1955 & made a low of 1936.5 versus the day high of 1955. The total volume for the day was at 17210 lots and the open interest was at 133350.Support for soyabean is at 1931 below that could see a test of 1925. Resistance is now seen at 1950 above that could see a resistance of 1962.

Trading Ideas:

Soyabean trading range is 1925-1962.

Soyabean moved down due to weak soymeal demand and higher stocks

Resistance for the soyabean is at 1950 and support is at 1925.

Yesterday we have seen that open interest rose by 570 and volume fell by 17650

In Indore spot prices fell 24 rupees to end at 1,943 rupees per 100 kg

SOYABEAN LOOK TO TRADE IN THE RANGE 1920-1960 OVERALL OUTLOOK IS WEAK.