NCDEX May soybean hits 3-week high on spot market gains.

Most active May soybean contract on the NCDEX hit a three-week high tracking spot markets, where prices rise due to limited supplies. The contract ended up 1.1% from the previous close. Strength in benchmark contracts on the CBOT also supported prices on the NCDEX. Contracts on the CBOT rise due to bargain buying as prices had fallen to an around one-year low early this week. Futures of soyoil, however, fell marginally as demand was down in the wholesale markets. Import of crude soyoil fell 29% on year in March to 229,853 tonne.