NCDEX June soybean up 1% on bargain buying.

June contract of soybean on the NCDEX rise 1% as investors bought the oilseed after prices fell in the last seven sessions. The most active June contract of soybean are up 0.7% from the previous close. Prices were fallen earlier due to subdued demand for soyoil and soymeal from oil millers in spot markets due to concerns over lower export noting a firm rupee against the dollar. Sentiments are weak because of favourable monsoon reports. The upward movement in prices, however, is likely to be short-lived as weak demand for the oilseed in physical markets and high supplies are seen pulling down prices in coming days.