NCDEX soybean up on bargain buying, low supply

Futures contracts of soybean on the NCDEX ended higher because of bargain buying and low supply of the oilseed in the local market. July contract up 0.7% from the previous close. Soybean prices are up on concern over low supply due to farmer strike in Madhya Pradesh. Anticipation of a decline in acreage under soybean in major soybean growing states of Maharashtra and Madhya Pradesh also provided support to the prices.