NCDEX soybean up on short covering, spot gains.

Soybean contracts rose marginally because of short covering and overnight gains in the bellwether contracts on the CBOT. The most active June contract on the NCDEX was up 21 rupees at 3,739 rupees per 100 kg. Benchmark Indore market was close today because of Amavasya. In Akola, another key market of the oilseed, prices were up. Reports of a possible hike in the import duty on sunflower oil, mustard oil, soyoil and canola oil are also creating positive sentiments.