Soybean edged higher on an increase in physical demand and lower output. Oil mills are reluctantly buying to run operations. Still, there is no parity between soybean and soymeal prices. Indian millers say prices make processing soybean economically unviable, since oil and meal do not command good prices. Soyabean yesterday we have seen that market has moved 0.13%. Market has opened at 2372 & made a low of 2371.5 versus the day high of 2393.5. The total volume for the day was at 19860 lots and the open interest was at 141550.Support for soyabean is at 2373 below that could see a test of 2361. Resistance is now seen at 2395 above that could see a resistance of 2405.

Trading Ideas:

Soyabean trading range 2340-2430

Soybean edged higher on an increase in physical demand and lower output

Now resist is at 2398 and taking support of 2373 level.

In Indore spot prices gained by 6 rupees to end at 2354 rupees per 100 kg.

Trading activity was thin because of New Year celebration Soyabean prices in the Nagpur

SELL SOYABEAN JAN BELOW 2380 SL 2405 TGT 2368-2356-2342.NCDEX