Soya oil remained unchanged in the local market despite lack of demand, even asforeign markets witnessed a bullish trend. Demand was poor as traders have already bought enough to meet the festival demand. Soya refined ruled firm at Rs 627-630 for 10 kg on scattered buying in the physical market, while resellers sold it at Rs 627-628.

Soya solvent also ruled flat on subdued buying. It was quoted at Rs 597-601 for 10 kg in spot and delivery markets on Thursday, against Rs 595-599 for 10 kg on Wednesday. Contrary to a bearish sentiment in the physical market, soya oil futures rose on strong global cues. August contract of soya oil on National Board of Trade (NBOT) closed marginally higher at Rs 647.40 for 10 kg, after opening at Rs 646.80 in the morning. NBOT witnessed first cut of the month on Thursday at Rs 660.70.

August contract of soya oil ended higher on the National Commodity and Derivatives Exchange, too, at Rs 658.50 for 10 kg, after opening at Rs 656.60 in the morning. As compared to August contract of soya oil, September contract declined on lack of demand from traders, closing lower at Rs 646.30 after opening at Rs 648.95 in the morning.

Soyabean, on the other hand, gained marginally on weak arrivals. Soyabean ruled at Rs 2,270-2,320 a quintal in Madhya Pradesh ex Indore mandis , against Rs 2,250-2,330 a quintal on Wednesday. In Indore mandis , soyabean was quoted at Rs 2,300-2,320 a quintal. Plant deliveries of soyabean were quoted at Rs 2,380-2,420 against Rs 2,330-2,470 a quintal on Wednesday.

While 25,000 bags arrived in State ex Indore, Dewas and Ujjain mandis , 1,500 bags arrived in Indore and Dewas each, and 1,700-1,800 bags arrived in Ujjain mandis .

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