Soybean dropped as higher stocks, weak spot demand and a fall in overseas markets hammered sentiment. At the Indore spot market in top producer Madhya Pradesh, soybean edged down by 9 rupees to 1,939 rupees. Soyabean yesterday we have seen that market has moved -1.12%. Market has opened at 1959 & made a low of 1933 versus the day high of 1959. The total volume for the day was at 47890 lots and the open interest was at 124110.Support for soyabean is at 1930 below that could see a test of 1918. Resistance is now seen at 1956 above that could see a resistance of 1970.

Soyabean trading range is 1918-1970.

Soybean dropped on higher stocks and weak spot demand

Resistance for the soyabean is at 1956 and support is at 1930.

Yesterday we have seen that open interest fell by 6360 and volume rose by 37130

In Indore spot prices dropped 9 rupees at 1,939 rupees per 100 kg

SELL SOYABEAN JUNE @ 1955 SL 1970 TGT 1938-1920.NCDEX