NCDEX soybean up tracking spot prices, CBOT cues.

Futures contracts of soybean on NCDEX rose to a near one-week high of 3,225 rupees per 100 kg tracking spot prices. In Indore, the benchmark market, price of soybean was higher on improved demand and lower arrivals. The front-month October contract for soybean on NCDEX was up 0.7% at 3,225 rupees per 100 kg, while the most-active November contract was also up 0.7% at 3,229 rupees. In Indore, the oilseed was sold at 3,150-3,175 rupees, up 25 rupees. Arrivals in Madhya Pradesh were pegged at 200,000 bags (1 bag = 100 kg), down 100,000 bags. A rise in the soybean contracts on CBOT also likely supported domestic prices.