Last week, soybean in Solapur (Maharashtra) opened at ₹4,500 per quintal on Monday and closed at ₹4,490 per quintal on Saturday, registering a decline of ₹10 per quintal. Due to a lack of demand, soybean prices remained under pressure throughout the week and stayed below the MSP levels. Domestic prices are facing pressure from supply-demand dynamics and global market conditions, with plant delivery prices trading within a limited range. Government Procurement Update: So far, the government has procured 13.7 lakh tonnes of soybean under the Price Support Scheme (PSS). NAFED has procured 9.78 lakh tonnes, while NCCF has procured around 3.94 lakh tonnes. State-wise Procurement: MP: 6.22 lakh tonnes Maharashtra: 5.39 lakh tonnes Telangana: 83,075 tonnes Rajasthan: 67,268 tonnes Gujarat: 43,210 tonnes Karnataka: 18,282 tonnes The procurement period in Maharashtra has been extended till January 31, and in Rajasthan, it has been extended till February 14. Factors Affecting Soybean Prices: Soybean prices are under pressure due to the increasing global production scenario, with Brazil and Argentina expected to see historically high production. Additionally, India is facing tough competition in soybean meal exports, and there have been no significant export demand reports since March. Outlook: Considering the current price dynamics and global factors, soybean prices are expected to remain within a limited range. The start of soybean futures trading is providing support at lower levels. According to sources, the government may resume soybean futures trading in the coming months. By March, soybean prices could increase by ₹150-200 per quintal.