Soyabean edged higher defying weak global cues on market speculation Indian meal exports may gather momentum from loading delays in Brazil. U.S soybean and grain futures drifted in a narrow range on Monday as the dollar gained and traders showed caution ahead of U.S. plantings forecast due at the end of the month. Soyabean yesterday we have seen that market has moved 0.57%. Market has opened at 2013 & made a low of 1997.5 versus the day high of 2026. The total volume for the day was at 51320 lots and the open interest was at 135260.Support for soyabean is at 2001 below that could see a test of 1985. Resistance is now seen at 2030 above that could see a resistance of 2042.

Trading Ideas:

Soyabean trading range is 1985-2042.

Soyabean yesterday ended higher defying weak global cues

Resistance for the soyabean is at 2030 and support is at 2001.

NCDEX accredited warehouses soyabean stocks rose by 427 tonnes to 5939 tonnes.

In Indore spot prices settled down by a rupee at 2021 rupees per 100 kg

SELL SOYABEAN APR @ 2040 SL 2062 TGT 2022-2002-1986. NCDEX