Soyabean prices moved down in Nagpur on poor demand from local crushing plants. No takers to soyabean oil & soymeal, weak trend on NCDEX in last trading session and fresh fall in Madhya Pradesh soyabean prices said to be the reasons for downward trend in soyabean prices here. About 550 new soyabean bags reported for auction in Nagpur.
Soymeal prices ruled steady here on subdued demand from South-based traders. Soyabean oil, groundnut refined, sunflower refined, linseed, rapeseed and coconut KP oil ruled steady here in thin trading activity.
Soybean futures found weakness into the close, settling within 1/4 of a cent off the lows in the 2019 contracts. Meal futures were down $2.70/ton, with May soy oil was up 36 points. Soybean exports for the week of April 25 were 491,600 MT according to Export Inspections data. That was 27.34% larger than the week prior, yet down 29.12% from this same week last year. Of that total, 136,384 MT was shipped to China. After the close, NASS reported that 3% of the US soybean crop has been planted. That was even with a year ago and behind the 5% average. Trade ideas had been around 5%.