Price of soybean in the key spot market of Indore rose due to better demand from crushing plants amid lower arrivals. Demand remained firm as millers see lower stocks available with farmers.

In Indore, the oilseed was sold at 3,690-3,770 rupees per 100 kg, up 10-20 from previous day.

Arrivals in Madhya Pradesh, the largest grower, were pegged at 100,000-110,000 bags (1 bag = 100 kg), down 10,000-15,000 bags from the previous day. On NCDEX, soybean futures remained steady as profit booking by traders was offset by firm spot cues.

Traders booked profits after the most-active February contract hit a 32-month high on previous day. The most-active February contract was at 3,975 rupees per 100 kg.