NCDEX soybean up as overall acreage down so far.

Futures contracts of soybean rose on NCDEX as acreage under the oilseed fell across the country as of Thursday. Farmers have planted nearly 10.52 million ha of soybean till last week, as against 11.33 million ha sown during the same period a year ago. Prices rose also because of improved demand from oil miller due to positive crush margins. Demand for soyoil, a derivative of soybean, is rising in domestic markets due to higher consumption of the edible oil in the ongoing festival season. The most-active October contract of soybean on NCDEX was up 0.7% from the previous close.