NCDEX soybean up on slow progress of kharif sowing.

Futures contracts of soybean rose nearly 1% on NCDEX due to slow progress of kharif sowing in Madhya Pradesh, the largest grower of the oilseed. The most-active October contract of soybean on the NCDEX was at 3,128 rupees per 100 kg, up 0.7% from the previous close. So far, this kharif season, farmers have planted soybean across 4.5 million ha in Madhya Pradesh, down 12.5% from the previous year, according to data from the farm ministry. Rise in exports of soymeal, a derivative of soybean, by 150% on year in July also supported prices.