Soyabean prices rose to a record on Monday following strong export demand for soyameal. In mandis across Madhya Pradesh, soyabean ruled at Rs 3,140-3,220 a quintal.

Plant deliveries in soyabean also ruled firm at Rs 3,280-3,320 a quintal on the back of strong support to soya DOC. In futures, however, soyabean traded lower on weak projections and buying support with its May and June contracts closing lower at Rs 3,356 (down Rs 4) and Rs 3,392 a quintal (down Rs 9.50).

According to traders here, depleting stock along with fear of weak crop in Brazil will keep soyabean, soya DOC bullish in near future. Arrival of soyabean in Madhya Pradesh on Monday was recorded at 40,000-45,000 bags against 2,200 bags in Indore, 3,000 bags in Dewas and 4,000 bags in Ujjain mandis.

On the other hand, soya oil either ruled stable or declined marginally on sluggish demand and weak global cues. In absence of buying support, soya refined ruled at Rs 722-726 for 10 kg (Rs 725-30). Soya solvent did witness some scattered trading at Rs 685-90 for 10 kg (Rs 684-88). In futures also soya oil traded lower on slack buying support and weak foreign demand.

On the NBOT, soya refined May contract closed Rs 2.20 lower at Rs 771.80 for 10 kg. Similarly on the NCDEX soya oil's May and June contracts closed at Rs 772.90 for 10 kg (down Rs 3) and Rs 779.50 (down 40 paise). According to traders, demand will continue to be on the downside at least for the next one moth due to strong demand in cotton oil which commands lower prices (Rs 703-7 for 10 kg) as compared to soya oil.

Uptrend in soya DOC continued on Monday with its prices on the port being quoted at Rs 27,100 a quintal against Rs 26,000 in the domestic market.

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