Soya refined was at Rs 687-90 for 10 kg (Rs 680-90), while soya solvent also rose marginally to Rs 655-60 (Rs 655-57).

Soya oil futures closed higher notwithstanding weak global cues with its May and June contracts on the NCDEX closing at Rs 721.55 (up Rs 3.20) and Rs 698 (up Rs 2.75).

Soyabean ruled firm at Rs 3,850-3,950 a quintal amid negligible arrivals as mandis in Madhya Pradesh remained closed on Monday on account of ‘Parashuram Jayanti’. Amid decline in arrival, plant deliveries in soyabean perked up by Rs 25 to Rs 4,025-75 a quintal.

Contrary to soyabean prices in the physical market, soyabean prices in the futures have been witnessing an uptrend with speculators pushing up its prices. On Monday, soyabeans’ May and June contracts on the NCDEX closed at Rs 4,086.50 (up Rs 69) and Rs 3,921.50 a quintal (up Rs 30.50).

Soyameal was steady at Rs 35,000 a quintal on comparatively weak domestic demand, while export demand continues to be poor.

Source :-Business Line