Soybean erased early losses to end higher as firm international cues outweighed weak soymeal exports that dampened appetite of oil millers. U. S. soybeans rose about 1.5 percent on Monday on Chinese purchases that reduced bearish influence from the upcoming South American harvest.

Soyabean yesterday we have seen that market has moved 0.65%. Market has opened at 2393 & made a low of 2374 versus the day high of 2405. The total volume for the day was at 45720 lots and the open interest was at 138430. Support for soyabean is at 2382 below that could see a test of 2363. Resistance is now seen at 2413 above that could see a resistance of 2425.

Trading Ideas:

Soyabean trading range 2350-2450

Soybean ended higher as firm international cues outweighed weak soymeal exports

Yesterday soya mange to close above 2400 level and now will get resistance at 2428.

Soyabean is getting support at 2382 level if broken we can see prices till 2360 level.

In Indore spot prices fell by 3 rupees to end at 2351 rupees per 100 kg.

BUY SOYABEAN JAN @ 2390-2400 SL 2370 TGT 2416-2430-2445.NCDEX