Indian soyabean edged up on Thursday but gains were capped due to an increase in the planting area and low demand for meal, a byproduct of crushing. The October soyabean contract on the National Commodity & Derivatives Exchange ended 0.1 percent up at 3,617 rupees ($53.97) per 100 kg. Soyabean planting is marginally higher compared with last year, while demand for soyameal or animal feed is lower in the monsoon season due to abundant availability of green fodder.
The August rapeseed contract dropped 0.7 percent to 4,834 rupees per 100 kg due to lower buying interest because of high prices at a time supplies are dwindling. August soyaoil futures were trading 0.3 percent down at 625.30 rupees per 10 kg, as of 1332 GMT, due to expectations of a rise in edible oil imports.