Soybean shrugged off early losses to end steady as lower level buying outweighed weak demand in the spot market amid offloading of the produce by stockiest. Prices are unlikely to look up anytime soon with higher crops expected in major producing countries, prompting stockiest to sell accumulated stocks ahead of summer months, when temperature erodes weight of the stored commodity. At Indore spot market in top producer Madhya Pradesh state, soybean prices eased by 10 rupees to 2,042 rupees per 100 kg.

Trading Ideas:

Soyabean trading range 2030-2115

Soybean ended steady as lower level buying outweighed weak demand

Resistance for the soyabean is at 2189 and support is at 2061 level

In Indore spot prices of soyabean dropped by 10 rupees to 2,042 rupees per 100 kg

Yesterday we have seen that open interest has fell by 21620 lots.

SELL SOYABEAN FEB ON JUMP @ 2125 SL 2148 TGT 2108-2090-2056.NCDEX