Even as arrival of soyabean in State mandis has declined, favourable sowing report has dragged the demand leading to fall in its prices.

On Monday, soyabean in State mandis ruled at Rs 3,550-3,650 a quintal (down Rs 100 from last week).

In futures also, soyabean traded low on weak buying support with its July and October contracts on the the NCDEX closing at Rs 3,640 (down Rs 30.50) and Rs 3,160 (down Rs 42.50).

Weak demand in oil has also dragged plant deliveries of soyabean to Rs 3,675-3,750 a quintal (down Rs 100 from last week).

Bullish trend in near future appears unlikely, given adequate carryover stock and enthusiastic report of soyabean sowing in the season so far.

Arrivals declined to 80,000 bags against 1.75 lakh bags last week. Indore mandis recorded an arrival of 5,000 bags, while Dewas and Ujjain recorded an arrival of 6,000 bags each.

Slack demand in physical market and pressure of palm and cotton oil has also led to a steep fall in soya oil prices in the past one week.

Amid slack demand and buying support, soya refined in the past one week has fallen by almost Rs 20 to Rs 645-50 for 10 kg, while soya solvent by about Rs 24 to Rs 610-13 for 10 kg .

In futures also, soya oil traded low on weak buying support with its July and August contracts on the NCDEX closing at Rs 671.90 (down Rs 1.10) and Rs 615 for 10 kg (down 65 paise).

Given poor demand and buying support, sluggish trend will likely to continue in soya oil in the coming days, said a trader Mukesh Purohit.

Poor demand in the export market has also dragged soyameal prices on the port by about Rs 2,500 a quintal to Rs 34,700, while in the domestic market it has fallen by Rs 1,000 to Rs 33,000-33,200 a quintal.

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