Soybean yesterday as per expectation dropped on weak meal. In Indore spot market in top producer Madhya Pradesh, soybean price eased by 14 rupees to 2,003 rupees. Soyabean yesterday we have seen that market has moved -0.95%. Market has opened at 2060 & made a low of 2025 versus the day high of 2064. The total volume for the day was at 37910 lots and the open interest was at 83290.Support for soyabean is at 2018 below that could see a test of 2002. Resistance is now seen at 2057 above that could see a resistance of 2080.

Trading Ideas:

Soyabean trading range is 2002-2080.

Soybean yesterday as per expectation dropped on weak meal

Resistance for the soyabean is at 2057 and support is at 2018.

Yesterday we have seen that open interest fell by 3040 and volume by rose 16980.

In Indore spot prices fell by 14 rupees lower to 2,003 rupees per 100 kg

SELL SOYABEAN APR @ 2050-2060 SL 2075 TGT 2028-2005.NCDEX