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Despite weak global cues, reports of decline in soybean area and damage to the crop in some parts of Madhya Pradesh and Maharashtra as reported by the Soybean Processors Association of India (SOPA) in its report here few days back days back, has pushed up soy oil prices in Indore mandis with soy refined today being quoted at ₹657-60 for 10 kg (up ₹10 from last week), while soy solvent rose to₹625-27 (₹615-18 last week). Given ban on import of edible oils, downtrend in soy oil appears unlikely in the coming days, said Sanjay Agrawal, a soybean trader talking to the Business Line .
Soybean traded higher at ₹3,150 a quintal, while plant deliveries of soybean ruled at ₹3,100. In futures however, soybean today witnessed lower circuit with its September and October contracts on the NCEDX today closing at ₹3,179 a quintal (down ₹98) and ₹3,206 (down ₹95) respectively. Soybean DOC with high protein value was quoted at ₹25,500 a quintal in the domestic market. Our Correspondent
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