Soybean ended higher tracking firm BMD palm oil. A delay in the South American crop harvest has led to hopes that global soymeal demand may shift to India. Soyabean yesterday we have seen that market has moved 1.19%. Market has opened at 2020 & made a low of 2011 versus the day high of 2044. The total volume for the day was at 45660 lots and the open interest was at 117290.Support for soyabean is at 2019 below that could see a test of 1998. Resistance is now seen at 2052 above that could see a resistance of 2064.

Trading Ideas:

Soyabean trading range is 1999-2065.

Soybean ended higher tracking firm BMD palm oil.

Resistance for the soyabean is at 2052 and support is at 2019.

NCDEX accredited warehouses soyabean stocks inched down a tonne to 6112 tonnes.

In Indore spot prices eased by 7 rupees to 2,018 rupees per 100 kg

SELL SOYABEAN APR @ 2040 SL 2062 TGT 2026-2010-1998.NCDEX