Soya oil ruled firm despite weak foreign markets and marginal decline in domestic demand. In the physical market, soya refined was quoted at Rs 603-605 for 10 kg against Rs 602-605 on Saturday. Barring Laxmi Industries and Dewas Soy, which purchased soya refined at Rs 603, bulk trading in refined was done at Rs 605.

Soya solvent also ruled steady at Rs 572-576 for 10 kg with Malasiyan palm oil futures turning negative in the evening. In the morning, though the market witnessed moderate buying, it lost steam in the latter half of the day as trading grew slack with declining weak foreign markets. According to a soya oil trader, buying remained tepid overall. Nevertheless, trading volumes in soya refined and solvent were reported around 400-500 tonnes each. In the futures market also, soya oil traded low on weak global cues. On National Board of Trade (NBOT), July contract of soya refined, after opening at Rs 637.30 in the morning, closed lower at Rs 633.80. Soya refined futures on NBOT had closed marginally lower on Saturday with its July contract closing at Rs 635.60. Similarly, soya oil futures traded lower on the National Commodity and Derivatives Exchange as well with June and July contracts closing at Rs 634.6 and Rs 634 respectively.

Soyabean also ruled sluggish on weak demand for soya de-oiled cake in the export market. In mandis across Madhya Pradesh ex Indore, soya seeds ruled at Rs 2,180-2,240 against Rs 2,180-2,230 in Indore mandis . Arrivals of soyabean in the State ex Indore were recorded at 35,000 bags against 2,200 bags in Indore mandis . Plant deliveries of soyabean also ruled low at Rs 2,250-2,275 a quintal.

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