Soybean fell tracking weak international markets and poor export demand for meal. Indian soymeal (export) demand is dull due to higher Indian prices. U. S. soybean futures fell 0.7 percent on Wednesday, retreating from a more than one-week high hit in the previous session, as it was weighed by a strong dollar and expectations of a bumper harvest in South America.

Soyabean yesterday we have seen that market has moved -0.1%. Market has opened at 2390 & made a low of 2340 versus the day high of 2395. The total volume for the day was at 71780 lots and the open interest was at 139060. Support for soyabean is at 2350 below that could see a test of 2317. Resistance is now seen at 2405 above that could see a resistance of 2427.

Trading Ideas:

Soyabean trading range 2330-2430

Soybean fell tracking weak international markets and poor export demand for meal

Now resist is at 2405 and taking support of 2364 level.

In Indore spot prices fell by 29 rupees to end at 2335 rupees per 100 kg.

BUY SOYABEAN JAN ABV 2394 SL 2370 TGT 2408-2422-2438. NCDEX