Soybean fell tracking weak overseas markets and on poor demand in the spot markets due to falling meal exports. At Indore spot market soybean price dropped 38 rupees to 2,097 rupees per 100 kg. U.S. March soybeans fell 4-¼ cents to $9.43 a bushel, showing losses of 12 percent over the past three weeks. Soyabean yesterday we have seen that market has moved -0.83%. Market has opened at 2155 & made a low of 2118.5 versus the day high of 2173. The total volume for the day was at 104890 lots and the open interest was at 263550.Support for soyabean is at 2117 below that could see a test of 2091. Resistance is now seen at 2172 above that could see a resistance of 2200.

Trading Ideas:

Soyabean trading range 2100-2200

Soybean fell tracking weak overseas markets and on poor demand in the spot markets

Resistance for the soyabean is at 2172 and support is at 2118 level

In Indore spot prices of soyabean dropped 38 rupees to 2,097 rupees per 100 kg

Yesterday we have seen that open interest has fell by 3630 lots.

SELL SOYABEAN FEB @ 2165 SL 2185 TGT 2140-2122.NCDEX