Soya oil traded slightly higher on improved global cues and scattered buying in the physical market. On the spot, soya refined gained Rs 2-3 at Rs 560-563 for 10 kg. In the resale, trading was mostly done at Rs 557-558 for Neemuch and Mandsaur.

On Wednesday, soya refined was quoted at Rs 558-560. Soya solvent also gained Rs 3-4 at Rs 528-532 on scattered buying, though bulk trading in soya solvent was seen at Rs 525-530 for 10 kg. Demand matched supply on the last day of the current financial year. Bbuyers and sellers were cautious preferred to wait for the release of the US Agriculture Department report later on Thursday evening.

In futures also, soya oil showed negligible gain. On the NBOT, soya refined April contract closed at Rs 597.40. On Wednesday, soya refined April contract on the NBOT had closed Rs 3 higher at Rs 597.20. However, soya oil futures gained marginally on the National Commodity and Derivatives Exchange with soya oil April and May contracts closing marginally higher at Rs 599.10 and Rs 608.60 for 10 kg.

Soya seeds also gained marginally in the mandis with prices of soyabean in mandis across Madhya Pradesh being quoted at Rs 2,170-2,240 a quintal, about Rs 10 up. In Indore mandis , it was quoted at Rs 2,170-2,210 a quintal. Indore witnessed arrival of about 800 bags of soyabean against 10,000-12,000 bags at the State-level.

Plant deliveries of soyabean also rose slightly on improved demand to Rs 2,290-2,320 a quintal. Traders hope that better demand for both soyabean and soya oil in the local mandis in the next few days, if the US report is upbeat on soybean. Besides, expected improvement in the domestic demand may give a slight push to soya prices.

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