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Notwithstanding strong foreign cues, soya oil ruled flat on scattered and weak buying with soya refined in local mandis on Monday was being quoted at ₹660-65 for 10 kg while soya solvent ruled at ₹625-35. Soyabean gained ₹100 on weak arrival with its prices at ₹3,950-4,100 a quintal. Arrival across Madhya Pradesh mandis on Monday declined to 20,000 bags with farmers and stockists restricting supply of soyabean.
Prospects for soyabean are bullish following the delay in monsoon and drop in supply as traders and stockists hold back the beans.
In futures however, soyabean showed a mixed trend with its July contract on the NCDEX lower at ₹3,915 (down ₹63), while its October contract closed higher at ₹3,824 (up ₹24).
Plant deliveries also ruled at ₹4,100-50 (down ₹25 from last week) on weak arrival. Weak demand dragged soyameal prices in the spot to ₹36,800-37,200 a quintal.
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