Soybean extended losses into a third consecutive day on weak global cues and sluggish domestic demand as falling meal exports weakened demand from millers. Malaysian crude palm oil futures fell 2.7 percent to one-week lows on Thursday as China's move to tighten liquidity triggered profit-taking in global vegetable oil markets. Soyabean yesterday we have seen that market has moved -2.08%. Market has opened at 2372 & made a low of 2325.5 versus the day high of 2372. The total volume for the day was at 57040 lots and the open interest was at 120870.Support for soyabean is at 2316 below that could see a test of 2298. Resistance is now seen at 2363 above that could see a resistance of 2391.

Trading Ideas:

Soyabean trading range 2290-2375

Soybean extended losses on weak global cues and sluggish domestic demand

Now soyabean will get resistance at 2348.

Soyabean is getting support at 2316 level.

In Indore spot prices fell by 39 rupees to end at 2291 rupees per 100 kg.

SELL SOYABEAN JAN @ 2360 SL 2386 TGT 2346-2332-2320.NCDEX