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Notwithstanding scattered buying support, strong foreign demand lifted both soya oil and soyabean prices in Indore mandis with soya refined today rising to ₹615-18 (603-605) for 10 kg, while soya solvent rose to ₹595-600 (580-85). Notwithstanding expected rise in demand in soy oil this month, long rally in soya oil appears unlikely given pressure of arrival of imported soyabean from Brazil in the coming days. Strong foreign support and comparatively weak arrival also boosted soyabean prices to ₹3,350-3,450 a quintal (₹3,200 last week) amid arrival of 40,000-45,000 bags in mandis across Madhya Pradesh. Given meagre availability with crushers, plant deliveries of soyabean also rose to ₹3,500-90 (₹3,350-3,400). Soyameal also witnessed a bullish trend with prices on the port quoted at ₹31,000-500 a quintal.
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