Weak global cues and thinner trading at the higher rate dragged soya oil prices in the physical market. Soya refined, which in the morning opened at Rs 622-25 for 10 kg, declined by Rs 3-4 at Rs 618-22 in the evening with falling Malaysian palm oil futures. However, resellers quoted soya refined at Rs 615-616.

Compared with soya refined, soya solvent was not traded at all. In the spot, soya solvent found no takers at Rs 590-595 for 10 kg, against Rs 594-598 on Saturday, as traders were asking for soya solvent in delivery at Rs 592 and in the spot at Rs 588.

Weak global cues also dragged soya oil futures. On the NBOT, soya refined June contract, after opening at Rs 655.20, closed lower at Rs 649.90. On the National Commodity and Derivatives Exchange (NCDEX), soya oil futures traded lower on sluggish global cues. Soya oil June and July contracts on the NCDEX closed lower at Rs 651.45 and Rs 654.90 after opening at Rs 657.20 and Rs 660.70 respectively in the morning.

On the other hand, trading in soya seeds continued to be sluggish as arrivals rose and selling increased after farmers released stocks expecting an early monsoon and an early crop.

Soyabean in mandis across Madhya Pradesh was quoted about Rs 10 down at Rs 2,250-2,280 a quintal against Rs 2,250-2,300 in Indore mandis . Soyabean futures on the NCDEX also traded lower, following weaker Chicago Board of Trade, with its June and July contracts closing at Rs 2,363 and Rs 2,389 after opening at Rs 2,382 and Rs 2,406 a quintal.

Arrivals of soyabean in State mandis remained steady at 50,000 bags against 2,500-3,000 bags in Indore mandis .

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