Soyabean yesterday traded with the negative node and settled -0.96% down at 2355.5 trimming the year's advance, as forecasts for rain in Argentina eased concerns that crops in the world's third-largest grower and exporter will be damaged by drought. A cold front may cause scattered light-to-moderate rainfall in soybean and corn-growing areas in Argentina around the middle of next week. In yesterday's trading session Soyabean has touched the low of 2351 after opening at 2370, and finally settled at 2355.5. For today's session market is looking to take support at 2347, a break below could see a test of 2339 and where as resistance is now likely to be seen at 2366, a move above could see prices testing 2377.

Trading Ideas:

Soyabean trading range is 2340-2378.

Soyabean traded with the negative node on international factors

Argentina eased concerns that crops and exporter will be damaged by drought.

USDA export report showed 23.331 mln bushels for export, with a net of a whopping 21.27 mln.

At the Indore spot market in top producer MP, soybean dropped -16 Rs to 2306Re 100 kgs.

SELL SOYABEAN JAN BELOW 2354 SL 2372 TGT 2335-2310. NCDEX