Slack export demand pounds soya

Weak global cues and sluggish demand in soyameal have once again dragged soya oil and soyabean prices in Indore mandis with soya refined at ₹635-38, while soya solvent declined to ₹615-20. Soyabean traded low at ₹3,650-3,700 (₹3,800 last week) on sluggish demand and weak global cues. Arrival of soyabean in local mandis was recorded at 5,000-6,000 bags. Plant deliveries of soyabean were lower at ₹3,700. Sluggish export demand has dragged soyameal prices to ₹32,200-400 a quintal (₹33,000). Given bumper crop report in the US and Brazil and weak export demand in soyameal, rally in both soyabean and soya oil appears unlikely in the coming days, said Sanjay Agrawal, a local trader.