Soyabean yesterday we have seen that market has moved -0.9% due to a drop in export prices of meal, higher stocks and weakness in overseas markets. In the Indore spot market, soybean fell by 19 rupees to 1,890 rupees per 100 kg. Market has opened at 1930 & made a low of 1914 versus the day high of 1933. The total volume for the day was at 28780 lots and the open interest was at 99780.Support for soyabean is at 1912 below that could see a test of 1903. Resistance is now seen at 1931 above that could see a resistance of 1941.

Trading Ideas:

Soyabean trading range is 1903-1941.

Soyabean ended weak on weak soymeal exports

Resistance for the soyabean is at 1931 and support is at 1912.

Yesterday we have seen that open interest fell by 4410 and volume 9120 3610

In Indore spot prices fell 19 rupees to end at 1,890 rupees per 100 kg

SELL SOYABEAN JULY @ 1935 SL 1955 TGT 1920-1900.NCDEX