Soyabean arrivals in State mandis declined in the past few days to 1 lakh bags from 5 lakh on expectation of higher prices. Many mandis remained closed on Monday for Dhanteras .

Soyabean sold at Rs 2,080-2,150 a quintal on average in the mandis. In Indore mandis, soyabean was quoted at Rs 2,070-2,140, with about 8,000 bags being offloaded in local mandis. Mandis in Ujjain, Dewas and Barnagar remained closed ahead of Diwali. With a marginal improvement in foreign markets, soyabean futures on the National Commodity and Derivatives Exchange (NCDEX) rose, with the November contract closing Rs 4.50 higher at Rs 2,204.50 a quintal. The December contract, on the other hand, lost Rs 4 at Rs 2,231 a quintal on the exchange because of weak buying support.

Plant deliveries of soyabean sold at Rs 2,180-2,220 a quintal. According to trade sources, soyabean prices are unlikely to witness a bearish sentiment in near future as there is enough ready demand. Soya de-oiled cake gained marginally on improved demand, quoting at Rs 17,300 a quintal in the Kandla port against Rs 15,800 in the local market.

Soya oil rose a little on improved demand in the local market ahead of Diwali. In the ready market soya refined sodl at Rs 610-611 for 10 kg, while it fetched Rs 605-607 for 10 kg in the forward market. Soya refined for November delivery on the National Board of Trade closed Rs 1.40 up at Rs 617 for 10 kg (Rs 612-614.10). On the NCEDX, soya oil for November delivery was up Rs 1.20 at Rs 616.30, while for December declined by Rs 3.05 at Rs 614.95 on weak buying support.

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