Soybean prices in Indore were steady amid thin trade due to a marginal decline in arrivals and firm demand. In Indore, soybean was sold at 3,730-3,800 rupees per 100 kg, largely steady from previous day, while arrivals in Madhya Pradesh, the largest growing state, were pegged at 85,000 bags (1 bag = 100 kg), compared with 90,000 bags the previous day.

Soybean futures on NCDEX were also steady due to lack of spot cues. The most active March soybean contract on the domestic exchange was at 3,733 rupees per 100 kg, down 3 rupees from the previous close.

Brazil’s 2018/2019 soybean harvest has advanced to 36 percent of the planted area, 19 percentage points above this time last season as some farmers sowed the soy earlier and then speeded up harvesting due to dry and hot weather.