Army ration wing to buy 6,000 tonne edible oil Sep 12.

The Army Purchase Organization has invited bids to buy 6,000 tonne of edible oil through NCDEX e-markets on Sep 12. In another tender, NCDEX e-markets auctioned 25 tonne soybean in Madhya Pradesh at 2,952 rupees per 100 kg against the base price of 2,950 rupees.

Soybean prices up in Indore on low supplies.

Prices of soybean were up in the key wholesale market of Indore, Madhya Pradesh, due to lower supply of soyoil amid good demand. Arrivals of soybean were steady. Refined soyoil in Indore was sold up 2-3 rupees from previous close. There is good demand for the seed from oil millers due to higher landed cost of imported crude degummed soyoil as compared to domestic market. Concerns over lower rainfall in key soybean growing areas of Madhya Pradesh and lower output also led to a rise in prices. The most active October futures contract was up 0.3%.