Soybean fell on weak meal exports, though a recovery in overseas markets limited the downside. Besides, the market is expecting bumper production in Brazil and Argentina. U. S. soybean edged higher, drawing strength from news that rains over the past week have slowed early soybean harvesting in Brazil's No. 1 producing state of Mato Grosso. Soyabean yesterday we have seen that market has moved -0.58%.

Market has opened at 2234 & made a low of 2205 versus the day high of 2245. The total volume for the day was at 110080 lots and the open interest was at 294430. Support for soyabean is at 2208 below that could see a test of 2187. Resistance is now seen at 2248 above that could see a resistance of 2267.

Trading Ideas:

Soyabean trading range 2175-2275

Soyabean ended down due to weak meal export demand

The market is expecting bumper production in Brazil and Argentina

Demat stock of soybean at NCDEX-monitored warehouses rose by 1031 tonnes to 18649 tonnes

In Indore spot prices gained up by 7 rupees by to 2174 rupees per 100 kg.

SELL SOYABEAN FEB @ 2230 SL 2260 TGT 2218-2200-2186.NCDEX