Soybean dropped as weak spot demand due to a drop in meal exports continued to hurt sentiment, though firm overseas markets limited the losses. U.S. March soybeans added 0.2 percent to $9.53 per bushel and China's Dalian soy futures rose 1 percent. Soyabean yesterday we have seen that market has moved -0.79%. Market has opened at 2187 & made a low of 2155.5 versus the day high of 2193. The total volume for the day was at 99490 lots and the open interest was at 267180.Support for soyabean is at 2150 below that could see a test of 2134. Resistance is now seen at 2187.5 above that could see a resistance of 2209.

Trading Ideas:

Soyabean trading range 2120-2210

Soybean dropped as weak spot demand due to a drop in meal exports weighed on prices

Resistance for the soyabean is at 2187 and support is at 2150 level

In Indore spot prices of soyabean ended steady at 2135 rupees per 100 kg.

Yesterday we have seen that open interest has fell by 17400 lots.

SELL SOYABEAN FEB @ 2200 SL 2224 TGT 2188-2170-2154.NCDEX