Soybean yesterday settled down at one-week low tracking sharp 2.2% decline in BMD palm oil futures. Traders are keeping an eye on key USDA monthly supply demand report, due today, for fresh cues. Soyabean yesterday we have seen that market has moved -1.73%.

Market has opened at 2110 & made a low of 2078 versus the day high of 2113. The total volume for the day was at 62550 lots and the open interest was at 111590. Support for soyabean is at 2066 below that could see a test of 2055. Resistance is now seen at 2101 above that could see a resistance of 2125.

Trading Ideas:

Soyabean trading range is 2055-2125.

Soybean yesterday settled down tracking decline in BMD palm oil futures

Traders are keeping an eye on key USDA monthly supply demand report

Resistance for the soyabean oil is at 2066 and support is at 2101.

In Indore spot prices fell by 18 rupees and settled at 2,072 rupees per 100 kg

SELL SOYABEAN MAR @ 2100 SL 2122 TGT 2084-2070-2056.NCDEX