Soybean prices rise in Indore as arrivals slide

Prices of soybean in Indore rose due to lower arrivals of the oilseed in the spot market. Improved demand from crushers due to rising soymeal exports is also seen supporting prices. The most-active January contract of soybean was, however, down 21 rupees on the NCDEX.

CBOT soybean down on lower demand for US crop October

Futures contracts of soybean were down on lower demand for the US crop in October. The most-active January soybean contract on CBOT was at $9.99 per bushel, down 0.4% from the previous close. Sharp downside in prices is unlikely as the crop in Argentina may be hit due to dry weather.

Indore soy up on higher incentive on soymeal export

Soybean prices in Indore rose due to increase in the incentive on export of soymeal by 2 percentage points to 7% under the Merchandise Export Incentive Scheme. Futures contracts of soybean on NCDEX traded up following the increase in export incentives on soymeal. The most-active January contract traded up 0.4% from previous close.

Malaysia CPO ends lower tracking CBOT soyoil

Futures contracts of crude palm oil ended lower on the Bursa Malaysia Derivatives, taking cues from soyoil contracts on the CBOT. The most-active February contract of crude palm oil on the Malaysian bourse hit an over four-month low of 2,530 ringgits (40,056.7 rupees) per metric tonne.

NCDEX coriander down 1% on profit booking

The most active January contract of coriander fell around 1% on the NCDEX as traders booked profits after the contract hit a seven-month high. The January contract traded down 1% from the previous close.