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Soyabean and soya oil ruled firm amid subdued, scattered buying and weak demand in soyameal. Soyabean prices in mandis across Madhya Pradesh were quoted at ₹3,950-4,100 a quintal amid arrival of 40,000 bags.
In futures, however, soyabean traded low on weak buying support on account of rains. Plant deliveries also traded low at ₹4,175-4,225 (₹4,200-50) amid slack demand for soya oil in the physical market and rise in arrival of imported soyabean in the mandis.
Soya oil ruled stable with soya refined in local mandis being quoted at ₹645-55 (₹650-60 last week). Soya solvent also ruled steady at ₹612-15 amid slack demand. Soyameal also ruled stable at ₹37,800-38,000 a quintal.
According to Mahesh Purohit, a local trader, given depletion of stock and prospect of improved buying , prospects for soyabean and soya oil appears bright in the coming days.
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