Soyabean yesterday we have seen that market has moved -0.67% as a drop in meal exports squeezed demand in physical market. At the Indore spot market in top producer Madhya Pradesh, soybean fell by 29 rupees to 1,914 rupees 100 kgs. Market has opened at 1937 & made a low of 1914.5 versus the day high of 1937.5. The total volume for the day was at 32930 lots and the open interest was at 134290.Support for soyabean is at 1915 below that could see a test of 1903. Resistance is now seen at 1938 above that could see a resistance of 1949.

Trading Ideas:

Soyabean trading range is 1903-1949.

Soyabean moved down as a drop in meal exports squeezed demand in physical market

Resistance for the soyabean is at 1938 and support is at 1915.

NCDEX accredited warehouses soyabean stocks fell 1553 tonnes to 3258 tonnes.

In Indore spot prices fell 29 rupees to end at 1,914 rupees per 100 kg

BUY SOYABEAN JULY @ 1920-1925 SL 1905 TGT 1940-1965.NCDEX