Soybean nudged higher on a slight improvement in spot demand and tailing firmness in the U.S. market. U.S. market is supporting soybean, but upside is limited. Meal exports are still weak. U.S. soybean futures gained half a percent on Monday, rising for a second straight session, while the wheat market bounced from a five-month low as a weakening dollar supported the grain markets. Soyabean yesterday we have seen that market has moved 0.12%. Market has opened at 2050 & made a low of 2042.5 versus the day high of 2067. The total volume for the day was at 47540 lots and the open interest was at 101160.Support for soyabean is at 2040 below that could see a test of 2029. Resistance is now seen at 2065 above that could see a resistance of 2078.

Trading Ideas:

Soyabean trading range is 2030-2079.

Soybean nudged higher on a slight improvement in spot demand

Resistance for the soyabean is at 2065 and support is at 2040.

Yesterday we have seen that open interest fell by 5850 and volume rose by 6940 lots.

In Indore spot prices gained 4 rupees lower to 2,021 rupees per 100 kg

SELL SOYABEAN APR @ 2065-2075 SL 2090 TGT 2035-2005.NCDEX