Soybean extended losing streak into a sixth straight session as weak meal exports trimmed demand from millers in the physical market. In last two weeks millers have significantly reduced export price of soymeal, but still demand is not picking up. Soyabean yesterday we have seen that market has moved -1.11%. Market has opened at 2310 & made a low of 2270 versus the day high of 2310. The total volume for the day was at 51220 lots and the open interest was at 98270.Support for soyabean is at 2263 below that could see a test of 2247. Resistance is now seen at 2303 above that could see a resistance of 2327.

Trading Ideas:

Soyabean trading range 2235-2325

Soybean extended losses as weak meal exports trimmed demand from millers

Now soyabean will get resistance at 2303.

Soyabean is getting support at 2263 level.

In Indore spot prices fell by 9 rupees to 2244 rupees per 100 kg.

SELL SOYABEAN JAN @ 2280 SL 2310 TGT 2265-2240-2228.NCDEX