Soybean ended firm on some buying at the lower-level, although outlook remains weak with negligible demand and mounting stocks. At the Indore spot market in top producer Madhya Pradesh, soybean dropped up 3 rupees to 1,936 rupees.

Soyabean yesterday we have seen that market has moved 0.44%. Market has opened at 1940 & made a low of 1933 versus the day high of 1956. The total volume for the day was at 18100 lots and the open interest was at 123330. Support for soyabean is at 1938 below that could see a test of 1924. Resistance is now seen at 1961 above that could see a resistance of 1970.

Trading Ideas:

Soyabean trading range is 1924-1970.

Soybean ended firm on some buying at the lower-level

Resistance for the soyabean is at 1961 and support is at 1938.

NCDEX accredited warehouses soyabean stocks gained by 134 tonnes to 2313 tonnes.

In Indore spot prices dropped 3 rupees at 1,936 rupees per 100 kg

BUY SOYABEAN JUNE @ 1950 SL 1932 TGT 1974.NCDEX