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Soyabean and soya oil futures turn bullish on Thursday after hitting the four per cent lower circuit yesterday.
At 1.56 pm, the soyabean futures were trading up 1.52 per cent at Rs 2,996 a quintal, while soya oil gained three per cent to Rs 631.
Soyabean arrivals had increased sharply to four lakh bags on Wednesday. Spot prices in Maharashtra and Madhya Pradesh were quoted at Rs 2,800 a quintal.
Demand from millers was lacklustre as they expect the prices to fall as soyabean output is expected to a record high this year.
Area under soyabean cultivation is estimated at 10.71 million hectares against 10.34 million ha, while the output is pegged at 110 lakh tonnes in 2012-13 against 100 lakh tonnes last year.
Arrivals of soyabean and other kharif edible oilseeds are expected to increase this month, which may pull down prices in the short-term.
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