Soybean fell for a sixth straight day, weighed by weak overseas market and thin domestic demand on falling oilmeal exports. There is no parity between soybean and soymeal prices. Millers and stockists are waiting for a bigger correction. U. S. soybean fell after sliding one percent in the previous session, but the market looked for direction from China's Dalian soy futures, which climbed to a new 14-month high.

Soyabean yesterday we have seen that market has moved -2.1%. Market has opened at 2390 & made a low of 2343 versus the day high of 2390. The total volume for the day was at 27090 lots and the open interest was at 59890. Support for soyabean is at 2335 below that could see a test of 2315. Resistance is now seen at 2382 above that could see a resistance of 2409.

Trading Ideas:

SOYABEAN TRADING RANGE IS 2305-2400

SOYBEAN FELL FOR A SIXTH STRAIGHT DAY WEIGHED BY WEAK OVERSEAS MARKET

WAIT FOR FRESH ENTRY

NOW RES IS AT 2382 AND TAKING SUPPORT OF 2335 LEVEL.

IN INDORE SPOT PRICES FELL BY 36 RUPEES TO END AT 2333 RUPEES PER 100 KG.