Soybean yesterday eased due to weak spot demand. In Indore spot market in top producer Madhya Pradesh, soybean price fell by 12 rupees to 1,973 rupees. Soyabean yesterday we have seen that market has moved -0.03%. Market has opened at 1982 & made a low of 1971.5 versus the day high of 1987. The total volume for the day was at 29890 lots and the open interest was at 139210. Support for soyabean is at 1974 below that could see a test of 1965. Resistance is now seen at 1989 above that could see a resistance of 1996.

Trading Ideas:

Soyabean trading range is 1965-1996.

Soybean yesterday eased due to weak spot demand

Resistance for the soyabean is at 1996 and support is at 1974.

Yesterday we have seen open interest has rose by 5370 and volume by 3020.

In Indore spot prices fell by 12 rupees to 1,973 rupees per 100 kg

SELL SOYABEAN MAY @ 2000 SL 2012 TGT 1986-1970.NCDEX