Soyabean yesterday we have seen that market has moved -0.62% as demand is not improving due to a drop in meal exports. At the Indore spot market in top producer Madhya Pradesh, soybean fell 10 rupees to 1,904 rupees 100 kgs. Market has opened at 1923 & made a low of 1908.5 versus the day high of 1932. The total volume for the day was at 28700 lots and the open interest was at 136440.Support for soyabean is at 1905 below that could see a test of 1895. Resistance is now seen at 1929 above that could see a resistance of 1942.

Trading Ideas:

Soyabean trading range is 1895-1942.

Soyabean moved down as demand is not improving due to a drop in meal exports

Resistance for the soyabean is at 1929 and support is at 1905.

NCDEX accredited warehouses soyabean stocks rose 223 tonnes to 3481 tonnes.

In Indore spot prices fell 10 rupees to end at 1,904 rupees per 100 kg

SOYABEAN IS TRADING ON THE SUPPORT AT 1905 LEVEL SELLING IS EXPECTED ON JUMP TILL 1940 LEVEL.