Inventories of soybean at NCDEX-accredited warehouses rose to a nine-month high as futures are trading above spot prices. Stocks of the oilseed at exchange warehouses were pegged at 207,966 metric tonne, 1,206 metric tonne higher from previous close. The most-active January contract was up 0.6% from the previous settlement. Soybean prices are trading above the minimum support price and this also led to an increase in the warehouse stocks.
Mustard seed prices up in Jaipur as arrivals down
Prices of mustard seed rose in Jaipur, the benchmark market, as arrivals of the oilseed declined marginally during demand from crushers. Worries of lower acreage this season is also seen creating positive sentiment.
Soybean prices up in Indore on low arrivals
Prices of soybean in Indore were up because of low arrivals. Low availability of quality stocks is also seen supporting prices of the oilseed. On NCDEX, the most-active January contract was up by 14 rupees.
NCDEX coriander up 2% on firm demand, low acreage
Futures contracts of coriander on the NCDEX rose for the third consecutive day and gained over 2% on the back of higher demand from domestic retailers amid a decline in acreage this season. The most-active January contract of coriander on the NCDEX was up 2.3% from the previous close.