November soyaoil at the Mullet Commodity Exchange (MCX) was up 0.60 rupees at 358.20 per 10 kg. The National Commodities and Derivatives Exchange December contract rose 1.30 rupees to 361.90.
Prices will rise further next week as market arrivals of soyabean comes down during the festival holidays, an Ahmedabad-based dealer said.
Traders said about 500,000 soyabean bags of 90 kg each were arriving in the markets each day across the main growing regions. They said crushing for oil in the new season had already begun.
They also expected soya prices to rise when the crushed oil moves to consuming states like Utter Prudish and Rajasthan. India's soyabean output this year is expected to be about 5.36 million tonnes, down from 5.85 million a year ago, according to the Central Organisation for Oil Industry and Trade.
Wheat futures fell but traders expected them to rise in the coming weeks when demand picks up in the northern states during the winter season.
India's southern states largely depend on the northern producing region for wheat. November wheat at the NCDEX fell 4 rupees to 819 per 100 kg. The December contracts dropped 4.60 rupees to 829.60. Traders said there appeared to be no dearth of wheat stocks in the market. The Food Ministry said on September 1, India had 11.3 million tonnes of wheat and 7.07 million tonnes of rice.
Indians consume about 1.5 million tonnes of wheat a month but consumption increases in the north in the winter months, beginning November.
Gold prices were slightly firm on a rebound in Asian prices. December gold at MCX gained 7 rupees to 6,831 per 10 grams. February gold rose 4 rupees to 6,850.
Gold gained in Asia on Tuesday as buying interest emerged at lower levels following a drop in New York, but investors were wary of buying too much ahead of next week's US Federal Reserve meeting.
Spot gold rose to $466.25/467 an ounce in afternoon trade from $465/465.70 in the US market on Monday, when it fell about $1.5 due to a steady dollar, higher equities and a softer oil price.