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Notwithstanding weak global cues, soyabean witnessed bullish trend in Indore mandis on weak arrival and steep rise in futures. Amid arrival of 60,000 bags in mandis across Madhya Pradesh, soyabean prices on Monday rose to ₹4,100 a quintal (up ₹600 from last week). Besides weak arrival, rise in futures and soyameal have primarily contributed to higher prices in local mandis. Plant deliveries perked up to ₹4,000-50 (₹3,650-3,700 last week). Uptrend also continued in soyameal with spot prices at ₹36,500, while it was ₹38,000 on Kandla port. Soya oil traded low on sluggish demand and weak foreign cues with soya refined at ₹602-605 for 10 kg (₹595-600 last week), while soya solvent ruled at ₹580-85.
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