Sluggish trend continued in soy seeds and soy oil on slack demand in domestic market and fluctuating global cues. In absence of trading due to closure of mandis on `Ambedkar Jayanti', soybean ruled firm at Rs 2260-Rs 2325 a quintal. In the past four days, soy seeds have declined by Rs 30-Rs 40 a quintal on weak buying support because of erratic trading due to frequent closure of mandis in the past one week. Arrival of soybean in local mandis on Tuesday was almost negligible due to holiday. On Wednesday, about 1500-2000 bags of soybean had arrived in local mandis against arrival of 35,000-40,000 bags at state-level. Plant deliveries of soybean also remained firm at Rs 2320-Rs 2450 a quintal

Sluggish trend is also being witnessed in soy oil because of weak buying support and slack demand in the physical market. Another reason for bearish sentiment in soy oil is due to stockists' involvement in profit booking at higher rate and bearish trend in soy oil futures. Soy refined ruled firm at Rs Rs 580-Rs 585 for 10 kg, which is almost Rs 5-Rs 7 less as compared with its prices four days back. However, even at this rate, soy refined witnessed dearth of buying, primarily because of the holiday. Soy solvent is also trading low for the past few days. On Thursday, soy solvent also ruled steady at Rs 555-Rs 560 on weak demand and lack of buying interest at the current rate. As compared with its prices four days back, soy solvent is being quoted Rs 10-Rs 13 lower per 10 kg.

No future trading took plance in soy refined with the NBOT remaining closed on Thursday because of national holiday. According to trade sources, lack of cues from the spot market due to holiday kept the market under pressure. Continuation of devastation in Japan because of unending earthquakes has dampened the demand for soy products. Indian market moved in line with weak overseas market. Besides, weak trend in crude oil market also exerted pressure on the global oil and oilseeds market, they said.

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