Soybean continued their losing streak into a fifth straight session as weakness in global markets and weak offtake from millers in spot due to falling meal exports depressed sentiment. U.S. soy lost more ground on Friday, falling nearly 1 percent to its lowest in almost two weeks as a strong dollar and China's move to curtail liquidity weighed on the market. Soyabean yesterday we have seen that market has moved -0.78%. Market has opened at 2315 & made a low of 2301 versus the day high of 2329.5. The total volume for the day was at 21360 lots and the open interest was at 115470.Support for soyabean is at 2294 below that could see a test of 2283. Resistance is now seen at 2323 above that could see a resistance of 2340.

Trading Ideas:

Soyabean trading range 2260-2345

Soybean ended down due to weak offtake from millers in spot

Now soyabean will get resistance at 2323.

Soyabean is getting support at 2294 level.

In Indore spot prices inched up by a rupee to 2253 rupees per 100 kg

BUY SOYABEAN JAN ABV 2315 SL 2298 TGT 2338-2350-2368.NCDEX