Soybean closed up Saturday on technical buying but weak soymeal export demand weighed on prices.. India February soymeal exports at 220,552 metric tons against year earlier 375,098 tons. The soybean harvest in Brazil hit 33% from the estimated area in the week ended on March 5, according to the SAFRAS & Mercado report. Soyabean yesterday we have seen that market has moved 0.24%. Market has opened at 2118 & made a low of 2111 versus the day high of 2134.5. The total volume for the day was at 26780 lots and the open interest was at 125160. Support for soyabean is at 2112 below that could see a test of 2100. Resistance is now seen at 2135 above that could see a resistance of 2147.

Trading Ideas:

Soyabean trading range is 2100-2147.

Soybean provisionally settled down on weak soymeal export demand

Resistance for the soyabean is at 2147 and support is at 2109 level

In Indore spot prices remained at 2,110 rupees per 100 kg

NCDEX accredited warehouses soyabean stocks rose by 30 tonnes to 258 tonnes.

BUY SOYABEAN MAR @ 2115 SL BELOW 2096 TGT 2134-2152-2165.NCDEX