NCDEX soybean down 1% on improved weather prospects.

Futures contracts of soybean on the NCDEX fell over 1% due to improved weather forecast in major growing areas in coming days. Soybean futures hit a three-week high on reports of crop damage due to rainfall in Madhya Pradesh. Clear skies in key growing areas have erased worries of further crop damage. Arrivals of soybean in Madhya Pradesh estimated at 70,000-80,000 bags (1 bag = 100 kg), higher than 40,000 bags on Saturday.