Futures contracts of soybean rose on the CBOT due to delay in harvest in the US following heavy rainfall in the Midwest which is the a key soybean-growing region. Prices up for the second day also because investors continued to cover short positions after contracts hit a three-week low.
NCDEX soybean down for 5th day on new crop arrivals.
Soybean contracts on the NCDEX declined for the fifth consecutive trading day, as spot prices fell due to a pick-up in arrivals of the new crop. Arrivals of the new crop in spot markets of Madhya Pradesh pegged at 100,000-125,000 bags (1 bag = 100 kg), up from 90,000 bags on oct 04.