up 10-20 rupees. Arrivals across Madhya Pradesh, the largest grower, were pegged at 90,000 bags (1 bag = 100 kg), compared with 110,000 bags on previous closing. Futures contracts of refined soyoil on the NCDEX and crude palm oil on the MCX edged higher owing to improved purchases in wholesale markets and taking cues from global markets.

Futures contracts of most components of edible oil basket, barring mustard, extended gains on domestic exchanges. The most-active January contract of soybean closed marginally higher in line with gains in key soybean contracts on Chicago Board of Trade. Soybean rose on the US exchange due to improved demand at lower price levels. Prices fell to a one-month low following lower than expected demand for the US crop from China. The US is the world’s top grower of soybean and China is the largest importer. prices also rose due to pick up in demand from crushing plants and exporters amid low arrivals.

After a short rally in mid-December, January 2019 soybean prices fell more than 50 cents in only two weeks. It’s those intermittent rallies that one Purdue University economist wants farmers to watch. The uncertainty surrounding prices could also spark some last-minute changes in crop rotations next year, and that’s why Jim Mintert said 2019 may be the year that flexibility in cropping decisions pays off.