Tuesday 6 January 2015

SOYABEAN TO TRADE ON BULLISH OUTLOOK


NCDEX soyabean, agri intraday, soyabean futures, Futures Trading Tips, free agri calls, Agri Commodity Tips
  • NCDEX Soybean Jan futures were trading down on Thursday taking cues from the international markets and on profit booking on higher levels. Soybean January contract slipped 1.04% to 3397 levels on Tuesday at NCDEX.
  • Soyabean January contract is likely to trade bullish for short term and sideways for intra day. Short term support is seen at 3270 and resistance at 3490. “Intra day support is seen at 3340 and and resistance at 3410.
  • Global soybean production is projected at a record 312.8 million tons with gains this month for Canada, Ukraine, and Paraguay. Global rapeseed production is projected at a record 71.9 million tons, up 1.2 million mainly on increased production for Canada, which is estimated at 15.6 million tons.

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