Spot Market Update: Soybeans Gain In Indore, Demand Supportive

Spot Soybean edged up further today. Soybeans are witnessing steady demand from stockists amid mixed cues from ready oil market. There are calls of slightly better prospects for Soybeans in ready market after the increase in import duties on edible oils. Supplies are steady in major mandies in Maharashtra and Madhya Pradesh and traders are eyeing the arrivals of rabi oilseeds now. Spot Soybeans are quoting around Rs 3880 per quintal in Indore today, up 0.40% on the day. Prices are hovering just under their one and half year highs.