Soybean price up in Indore on low supply, CBOT cues.

Prices of soybean rose in Indore as arrivals declined and benchmark contracts on CBOT gained. In benchmark Indore market, prices of soybean rose by 25 rupees to 3,475-3,525 rupees per 100 kg. Arrivals of soybean in Madhya Pradesh fell to 30,000-35,000 bags (1 bag=100 kg) from 50,000 bags. Most markets in Madhya Pradesh were closed since Friday, last day of truckers’ strike, and the bandh called by traders to oppose electronic billing and procurement. On NCDEX, the October contract rose 1% to 3,394 rupees per 100 kg, tracking gains in the spot market.