India, April 16 -- Technically Soyabean market is under long liquidation as market has witnessed drop in open interest by 3. 03% to settled at 110805 while prices down 121 rupees.
Now NCDEX Soyabean is getting support at 6580 and below same could see a test of 6440 levels and resistance is now likely to be seen at 6964 a move above could see prices testing 7208.
Soyabean yesterday settled up by 4.49% at 7022 on concerns over global supplies after domestic processors and importers led by China made huge purchases of grain and oilseeds.
Soyabean production for the current season (October 2020-September 2021) has been projected at 104.55 lakh tonnes (lt) besides an opening stock of 5.16 lt.
This is against last year s production of 93.06 l...