Soybean prices in Indore fell due to a decline in demand from millers and stockists. However, a decline in arrivals limited the fall in prices.

In Indore, the oilseed was sold at 3,860 rupees per 100 kg, down 10-15 rupees. Arrivals in Madhya Pradesh were pegged at 35,000 bags (1 bag = 100 kg) compared with 40,000 bags.

Tracking spot cues, soybean futures on NCDEX also fell. The most active July contract was last at 3,619 rupees per 100 kg, down 0.3% from the previous close.

Soybean futures saw losses of 12 to 13 1/2 cents in most contracts, as July closed the week up 0.67%. Soymeal was down $7.40/ton on the day and 2.44% lower this week.

Bean oil was 15 points lower but held the complex up this week, rising 3.01%. Money managers in soybean futures and options trimmed their net short position by 35,848 contracts as of 6/18 to -55,307 contracts according to Commitment of Traders data.

Old crop soybeans export commitments are 103% of the USDA export projection with the typical pace at 100%.

There is still a large amount of unshipped sales (11.01 MMT), with shipments at 79% of the USDA vs the average of 90% at this point.

Of the total outstanding sales 6.01 MMT have been booked by Chinese buyers with just 2 1/2 months left in the MY.