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Soyabean futures continued their bull run taking cues from the global markets that are surging on the weather affecting the crop in Latin America.
Spot as well as futures were 2.02 per cent and 1.52 per cent higher, respectively, week-on-week. CBOT soyabean settled higher by 0.59 per cent.
A strong crush report from the main producer, the US, and robust export sales have provided support to prices of the oilseed. The condition of drought-hit US soyabeans improved from good to excellent as cooler weather eased plant stress from the worst drought in half-a-century.
On the NCDEX, the near-month October contracts increased to Rs 4,022.5 a quintal.
Soyabean for November delivery rose by Rs 47 to Rs 3,987 a quintal, while that of December increased by Rs 55 to Rs 4,029.5.
In the spot market at Indore (M.P), soyabean was quoted at Rs 4,613 a quintal.
Soyabean spot as well as futures are expected to remain high on account of tight supply in the domestic as well as global markets till the arrival of the fresh crop in mid-September.
Meanwhile, soya oil futures hit the upper circuit on the NCDEX with the October contract trading at Rs 820.05 for 10 kg, after hitting a record high of Rs 821.2 earlier in the day.
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