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Notwithstanding strong global cues, sluggish demand dragged soy oil in Indore mandis with soy refined on Monday here being quoted at Rs 595-Rs 598 for 10 kg while soy solvent ruled at Rs 570-Rs 575. Compared to last week, soy oil is down Rs 5. Given March closing, trading sentiment as well as buying support in soy oil continue to remain poor and any fresh demand in soy oil is expected next month only, said Mr Sushil Agrawal, a local soybean broker talking to the Business Line.
With mandis remaining closed today due to March closure, soybean in private trading ruled steady at Rs 3,200 amid negligible arrivals. Plant deliveries in soybean today rose marginally to Rs 3,350-Rs 3,400. In futures however, soybean traded higher on strong global cues with its April and June contracts on the NCEDX today closing at Rs 3,443 (up Rs 61) and Rs 3,465 a quintal (up Rs 60) respectively.
Soy DOC gained marginally on improved domestic demand at Rs 28,500- Rs 29,000 a quintal on improved buying support.
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