Even in absence of cues from the global markets that were closed on Monday, higher domestic demand lifted soya oil in the local mandis on enthusiastic buying support.

Improved buying support perked up soya refined to Rs 665-673 for 10 kg (Rs 655-665), while in resale soya oil fetched Rs 665-670 for 10 kg. Similarly, soya solvent also perked up to Rs 632-637 for 10 kg (Rs 624-628) on scattered demand and buying support. Total trading volume in soya refined and solvent was recorded at around 1,000 tonnes.

Buying support also lifted soya oil in the futures. Soya refined futures (January contract) on the NBOT closed Rs 14 higher at Rs 705.50 for 10 kg. On Saturday, soya refined January contract on the NBOT had closed Rs 5.50 lower at Rs 692.50 for 10 kg. Similarly on the NCDEX, soya futures ruled higher on enthusiastic buying support with its January and February contracts closing at Rs 706.50 (Rs 9.40 up) and Rs 705.20 for 10 kg (up Rs 13.20).

Comparatively weak arrival with about 1.5 lakh being offloaded in Madhya Pradesh mandis and improved buying support in soya oil also perked up soya seeds with its prices in the State mandis being quoted at Rs 2,310-2,360 a quintal against Rs 2,300-2,350 in Indore mandis. Arrival of soyabean in Indore mandis was recorded at 7,500 bags, in Ujjain at 7,000 bags and in Dewas at 9,000 bags.

Plant deliveries in soyabean also perked up to Rs 2,400-2,450 a quintal. Soyabean futures also ruled higher on improved buying support with soyabean's January and February contracts on the NCEDX closing at Rs 2,435.50 (up Rs 21.50) and Rs 2,463 a quintal (up Rs 17).

Soya de-oiled cake, on the other hand, ruled sluggish on slack export demand with its prices in the port being quoted at Rs 17,900 a quintal against Rs 16,800 a quintal in the domestic market.

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